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Webinar Activities

Calculating Quarterlies

Example interpreter details:

  • Income from 1099 sources:

    • Earned $5,000 in January

    • Earned  $6,000 in February

    • Earned $4,000 in March


Using our spreadsheet, calculate how much they should pay for Q1 quarterlies (both federal and state).

**Bonus question: When are Q1 quarterly taxes due?

Tax Income Reports

Calculating Extra W2 Withholdings

Example interpreter details

  • Filing status: Single

  • Income: has two W2 income sources.

    • Job 1 pays $10,000 annually

    • Job 2 pays $50,000 annually.

  • Both pay biweekly (26 times per year)

Using the W4 table, find out how much extra they should withhold annually.

**Bonus question: Complete the “multiple jobs worksheet” and calculate line 4

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