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SWITCH CHANNEL - How Freelancers Can Keep The Tax Man Happy
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If you make your money through the gig economy, you may have to pay quarterly taxes to avoid an IRS penalty. The IRS allows freelancers to pay quarterly estimated taxes with an electronic funds transfer, debit card, or credit card online. According to Business Insider, figuring out how much to pay can be very simple. That is, as long as your bookkeeping and taxes are up to date. Use accounting software to generate a monthly profit and loss statement. From that, estimate your tax liability.
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