If I work as an independent contractor how do I pay state and federal taxes?

Question

If I work as an independent contractor how do I pay state and federal taxes?

Please briefly explain each.

Answer 1

You have to estimate what you will be making and make quarterly payments to both entities. IRS online should be able to help, and the post office has forms. Or you could buy some accounting software that can help you with it.

Answer 2

You must pay estimated taxes directly to the federal and state government. Speak to your accountant or get one.Good Luck.