Best tax software or online website to estimate taxes?
From Jan - May I made $2,148.71 through Varsity and have paid IRS $400. This week I'm getting $399 and will be depositing $450 to the IRS, but I want to make sure if the estimated taxes are correct.
I didn't realize that tutoring is taxed very high in the US and its actually discouraging. I am trying to factor in internet costs, space costs, buying materials (test prep books and pen pad). When I looked up online, it seems like I should be paying 36% in federal + self taxes. I have still not paid my state taxes. Combining my state taxes, the total amount in taxes I would be paying is over 40%.