# Is filing *quarterly* mandatory for self employed?



## BostonTaxiDriver (Nov 23, 2014)

I'm confused on this, as some taxi drivers I spoke to a few years ago, when I last drove a cab, claimed they just wait to file taxes in April, not quarterly, as if they worked a W-2 job. Not that they all know or care about the rules.

I would guess that many rideshare drivers, especially if new and never having been self-employed, simply don't even know about quarterly taxes and just keep all of their gross earnings in case it's needed for an emergency...then pay in April.

I believe there's a penalty if one does not file quarterly? Not sure if it's onerous, or just a small penalty.


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## Older Chauffeur (Oct 16, 2014)

*Avoid a Penalty*
To avoid a penalty, pay your correct estimated taxes on time. Find how to figure and pay estimated taxes.

You may avoid the Underpayment of Estimated Tax by Individuals Penalty if:


Your filed tax return shows you owe less than $1,000 or
You paid at least 90% of the tax shown on the return for the taxable year or 100% of the tax shown on the return for the prior year, whichever amount is less.


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