amazon flex taxes reddit
Most drivers earn 18-25 an hour. Fine you in the spring because youll be under-withheld.
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How Much To Put Away For Quarterly Taxes.
. You can then use your own vehicle to deliver Amazon packages to customers in Australia. Youre an independent contractor. The current self-employment tax rate is 1530.
Its a progressive tax which means that the amount of tax youll owe depends on your income bracket. With Amazon Flex you choose when you want to deliver and how often. With Amazon Flex you deliver only when you want to.
Heres what users on Reddit have to say about their weekly earnings driving for Amazon Flex. What is Amazon Flex. Adjust your work not your life.
If you made less than 600 you usually wont get a 1099 for Amazon Flex income. The general rule of thumb is to put away 30-35 of your Adjusted Gross Income income reduced by tax write-offs for taxes. You use your own vehicle to deliver packages for Amazon as a way of earning extra money to move you closer to your goals.
10 hours on weekends and 4-6 hours on weekdays 300 per week working 10-15 hours 300 per week working 10-15 hours. Look into paying estimated taxes because none is being withheld -- or the IRS will get testy with you read. You can plan your week by reserving blocks in advance or you can log.
This doesnt mean you dont have to pay taxes or file taxes though. Welcome to the AmazonFlex Community where AmazonFlex Drivers come together. As a self-employed individual you must pay this tax if your net earnings from Amazon Flex are 400 or more.
Actual earnings will depend on your location any tips you receive how long it takes you to complete your deliveries and other factors. We know how valuable your time is. All groups and messages.
Income Tax The other federal tax that youll need to pay is income tax. You have to file a tax return if you have at least 400 in self-employment income. 600 is the IRS minimum and it costs Amazon money to send tax forms.
Once you calculate what that percentage is for the tax year divide that number by 4 -- and you have your quarterly estimated tax payments.
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