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Category: Self-Employed

Quarterly Tax Payments: Avoiding Penalties for NJ Self-Employed

My first year freelancing, I made about $60K. Thought I was doing great until April rolled around and I owed $11,000. Had maybe $2,000 in my account. That was a rough week. Turns out, when you’re self-employed, Uncle Sam wants his money spread throughout the year, not in one giant lump sum. It would’ve been nice if someone had mentioned that before I quit my day job. The Basics Nobody Explained to Me Here’s what…