How do I know if I need to pay estimated taxes?

Knowing if you need to pay estimated taxes in Washington depends on both your filing status and the amount of income you expect to make. If you are filing as single, head of household, qualifying widow/widower, or married filing jointly, then you will likely need to pay estimated taxes if your income is more than $400. If you are filing as married filing separately, then you will likely need to pay if your income is more than $200. It is important to note that the income used to calculate estimated taxes is different than what is used for other tax returns. It includes taxable income such as wages, salaries, interest, dividends, alimony, and certain business income. It does not include taxable benefits such as disability or Social Security. It is also important to remember that in Washington, estimated taxes are due four times per year: April 15th, June 15th, Sept. 15th and Jan. 15th. You will need to make sure you estimate your tax liability and pay it on or before these dates. For more information on estimated taxes, you should contact the Washington Department of Revenue or consult a qualified tax professional.

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