Your Business Set Up - Corporation? Partnership? LLC? Individual?

[GenXer]

All I know is this year I'm okay because I hardly made anything in 2003 (which was filed in Jan 2004 ) and my husband was working but we have 2 kids so we didn't really have to pay in anything, we even got paid back some money from ole' Uncle Sam thanks to the child credit.

Okay so I know I'm okay for not having paid in quarterly taxes this year because it states on the IRS websites that I did not have to pay that in this year "if I had zero tax liability in last year's taxes". Which I had NONE last year. So THIS YEAR is where it is going to get interesting.

So now I know once I get all of my income ready to report, it's going to be three times as much income for my husband and I as it was from last year. I am sure we will NOT be getting any money back from Uncle Sam like last year. He has a regular 9 to 5 job where they take taxes out and I'm self employed. So the kicker is going to be, what will taxes be like with his income and my self employed income? Should be interesting. I am sure we will have some sort of tax liability this year for the first time ever.

And now I know that since I will have a tax liability this year, I will have to start paying in quarterly. My question is, how do I know how much to pay? And if I'm just a webmaster working for myself, and the income I get is solely from affiliate payments (in other words, I don't run any paysites), do I need to state that I'm an individual? It's all so confusing. I'm not rich enough to pay some uppity accountant for their overrated advice (I am not a bigtime webmaster like Greenguy and Jim LOL). I need some good webmasterly advice! I use TurboTax to fill out my taxes and have never had a problem. Since I just work myself and have no employees, there is no need to form a "corporation", correct?

Arrrgh sorry about the long thread. Any advice for the small/ medium sized webmaster working for herself would be greatly appreciated. Thanks.