I recently started working as a freelancer, and I'd like to pay estimated federal and state taxes as I receive checks (otherwise I'm sure to spend it and regret it come April.) I found this site for federal: https://www.eftps.gov/eftps/ Anyone know where I could pay taxes for California? I checked out the California tax page and couldn't find anything. Also is there anything else I'm missing? Medicare or anything like that? Thanks!
To pay estimated taxes in California you need to file form 540ES quarterly: http://www.taxes.ca.gov/Small_Business_Assistance_Center/Calendar/mar.shtml Unfortunately, I don't think there is any automated way to pay them.
Thanks Nonny! I'm doing a lot of reading on the topic now.. apparently there's no way to just pay the taxes every week when I get a check (it's a long term freelance job). Any tips on where to store that money while you wait for the quarterly deadline? I don't want it sitting in my checking account with the rest of my money. Thanks again
You are welcome, and congrats on the long term job! Depending on where you bank, you should be able to open a savings account that is linked to the checking account. You could transfer a set amount from checking to savings every week.