Join Date: Dec 2003
Location: Mass. Confusion
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My parents are real estate agents, which are essentially independent contractors, they don't have any taxes taken out either. They have to pay estimated taxes quarterly or they incur penalties, they cannot wait until tax time to pay. I would assume it would be similar for you - definitely look into it and be sure.
If I recall correctly, if you owe more than a certain percentage of your taxes at tax-filing time, you will incur a penalty, taxes are supposed to be paid during the year, not at the end in a lump sum.
Mightymoo - Mom to DD (6) and DS (4)