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About John Stancil, CPA
Expertise
I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I teach tax and accounting at a small church-related college. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a part time tax practice for over 30 years. I am a member of the AICPA, National Association of Tax Professionals, and the Institute of Management Accountants. Visit my website at www.johnstancilcpa.com. Also visit my blog, www.thetaxdocspot.com.

Experience
I hold a doctorate in Accounting, and four professional certifications: CPA, CMA, CFM, and CIA. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I write a monthly tax column for the local newspaper. I have prepared taxes for over 30 years.

Education/Credentials
DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill College

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Tax Law (Questions About Taxes) - contract work tax filing

Expert: John Stancil, CPA - 11/6/2009

Question
I am contemplating accepting a job where the employer does not take out taxes so I will be responsible for filing myself. I need to know the steps to take for doing so, how often, how much to pay, etc. Thanks for your help!

Answer
Brenda,

Below is my original answer. Please ignore the "4" after January. Sorry for any confusion.

Thanks for your question.

You will need to file Schedule C with your 1040 to report your income and business expenses. You will also need to complete Schedule SE for the self-employment tax of 15.3%.

You should make a payment of your estimated taxes on the 15th of April, June, September, and January 4, using Form 1040-ES. There is a worksheet that accompanies this form that will assist you in determining the amount to pay.

Hope this helps.

John Stancil, CPA

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