You will have to file an annual Form 1040 with the Internal Revenue Service by April 15th for the preceding January through December time period. In addition, Maryland has a piggyback system of taxing you. They will use your Form 1040, make minor adjustments to those numbers, and calculate your tax at about 5%, and add a county tax of around 2%. The Maryland Form 502 is also due on April 15th.
If you have an incorporated business or partnership, you will have to file an annual return with the Internal Revenue Service by March 15th each year. If you are not incorporated, you may be able to file your business net income with your personal income.

Most businesses will report to both you and the Internal Revenue Service the amount of income that you received from them on a Form W-2 or a Form 1099 that you should receive by January 31st each year.

If you do not understand all of the tax rules it may be best for you to hire a Certified Public Accountant to help you prepare your return. There are many businesses offering tax preparation services with differing levels of experience. CPA's are licensed by the state and must complete annual training to keep their licenses.

Good luck!

Zip Code: ldearden1@comcast.net