Social Security Taxes - When to Pay?

When do you pay Social security taxes? Is it at the end of the year, or do you have to pay monthly/quarterly as a full-time minister/pastor?


Answer

That depends on your income.

See this page for help figuring how much self-employment tax you owe so far.

Usually you will need to make quarterly estimated tax payments to avoid paying a penalty for underpayment of estimated tax.

Click here for more information on this penalty.

Once you send that first payment in the IRS will send you some personalized 1040-ES forms.


Hope This Helps!




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