How to pay taxes as a freelance graphic designer?

Question

I am a freelance graphic designer. I communicate with my clients via telecommuting. Not most of them are companies, but individuals who are in need of building their own personal businesses. Few of them can be somewhat big companies, but they don't provide 1099 or employment forms though. I HAVE NO IDEA HOW TAXES WORK. I need an advice from a good accountant or a tax professional. I'm really new to this, because I just got out of college and I started freelancing. All I know is that I'm making 2K-4K a month (it varies) and I have been travelling a lot. How can I pay taxes though? Quarterly? How can I find out how much I need to pay quarterly? I NEED HELP.

Answer 1

Get an accountant NOW.  You need to learn what records to keep and how to keep them.  You need to pay  estimated taxes including Social Security, medicare.  The longer you wait the more you will owe in penalties and interest.

Answer 2

Go sit down with a tax professional and get some ideas on how to prepare in advance for tax time.  The longer you wait the more difficult it will be.