How the Self-Employed Get Stimulus Money
Self-employed workers don’t have taxes withheld from their paychecks.
How can they get their stimulus money? Most taxpayers who file an individual return will receive $400 in
stimulus money in 2009 and in 2010; married couples who file a joint return will receive $800 each year.
Instead of receiving a check, employees will get the money through a reduction in the taxes that are withheld
from their paychecks, adding about $45 a month to their take-home pay for the rest of the year.
But self-employed workers will need to adjust their quarterly estimated tax payments to benefit from the extra
money this year. Single taxpayers can reduce the first quarterly payment due April 15 by $100 (25% of the
$400 credit for 2009); married taxpayers can adjust their quarterly payment by $200 (25% of the $800). Then
they’ll be able to reduce their three remaining payments for the year by that $100 or $200, too. Read