# New driver here, need simplified advice on what forms to file for quarterly?



## Joe Falcone (Oct 5, 2015)

So i started in October part time and have smaller amount of income.
What do i need to file for quarterly self employment ? Both federal and state ?? Is it true the forms are due by 1/15 Thanks in advance !
Joe


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## UberPissed (Aug 13, 2014)

1040-ES - there are four vouchers. I believe you can do it online through EFPTS or soemthing like that. 

Assuming your state has an income tax, you will need to use those forms as well.


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## UberTaxPro (Oct 3, 2014)

Joe Falcone said:


> So i started in October part time and have smaller amount of income.
> What do i need to file for quarterly self employment ? Both federal and state ?? Is it true the forms are due by 1/15 Thanks in advance !
> Joe


yes the last payment is due 1/15 however, *you do not have to make the payment due on January 15, 2016, if you file your 2015 tax return by February 1, 2016 and pay the entire balance due with your return.*
https://www.irs.gov/pub/irs-pdf/f1040es.pdf
https://www.irs.gov/uac/EFTPS-The-Electronic-Federal-Tax-Payment-System
http://www.revenue.pa.gov/FormsandPublications/FormsforIndividuals/Pages/Personal Income Tax/Personal Income Tax - 2015.aspx#.VovtNhUrKCo


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## Joe Falcone (Oct 5, 2015)

Thanks for the links TaxPro. I'm gonna need a bit more specifics though. So i neeed to do an estimated payment for the last quarter of 2015 and use a 1040 ES ? (4th quarter only ) Also, can you please help clear up the self employment issue and what forms need to be filled by when ?


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## UberTaxPro (Oct 3, 2014)

Joe Falcone said:


> Thanks for the links TaxPro. I'm gonna need a bit more specifics though. So i neeed to do an estimated payment for the last quarter of 2015 and use a 1040 ES ? (4th quarter only ) Also, can you please help clear up the self employment issue and what forms need to be filled by when ?


 Estimated tax (1040ES) is the method used to pay Social Security and Medicare taxes and income tax. You've got 2 options 1. Like you said you need to file (and pay) 1040ES for 2015 income by 1/15. After that you can file your 1040 up to April 15 or file for an extension. When you file your 1040 you will need a schedule SE and schedule C .
Option 2. File your 1040 with schedule SE and schedule C by 2/1/16 with all self employment and income tax payments included. If you take this option you don't have to send in a 1040ES payment by 1/15 like in option 1


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## UberTaxPro (Oct 3, 2014)

Joe Falcone check out this http://www.irsvideos.gov/SmallBusinessTaxpayer/virtualworkshop. Remember when you work for Uber/lyft you're not really working for them. You're really starting a small business.


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## Joe Falcone (Oct 5, 2015)

Gotcha, i already have another small business, so this part isn't new. I don't see my earnings from Lyft though. Is it because i made a small amount ?
Only had a small number of rides for them. The vast amount were Uber. Any thoughts ? Thanks!


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## UberTaxPro (Oct 3, 2014)

Joe Falcone said:


> Gotcha, i already have another small business, so this part isn't new. I don't see my earnings from Lyft though. Is it because i made a small amount ?
> Only had a small number of rides for them. The vast amount were Uber. Any thoughts ? Thanks!


Companies only need to send out 1099's if over $600


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## Joe Falcone (Oct 5, 2015)

so the logical question is does a driver need to report income under 600 ?


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## UberTaxPro (Oct 3, 2014)

Yes, not reporting income is considered tax fraud


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## StarzykCPA (Aug 6, 2015)

Joe Falcone said:


> so the logical question is does a driver need to report income under 600 ?





UberTaxPro said:


> Yes, not reporting income is considered tax fraud


Yes! Report your income even if you do not end up receiving a 1099.


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