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system
how do i estimate my taxes when i have only 1099 income?
user
as long as you paid 100% of your last year's tax liability (overall tax liability, the total tax to pay on your 1040) or 90% of the total tax liability this year, or your underpayment is no more than $1000, you won't be penalized as long as you pay the difference by april 15th. that's per the irs. i don't know where the "10% of my income" came from, i'm not aware of any such rule.
assistant