Hey there , I started driving as as driver using Lyft platforms since March 2018 . Also I’m employed for full time ( w2 - 50k per year ) . I make approximately around $450 per week. Do I need to file for quarterly estimated income taxes or do I pay taxes at the end of year with you guys along with my other day job? There is any estimation for the lyft tax amount please ? Thanks
To avoid any penalty on underpaying your tax throughout the year, the easiest thing would be to request that your W-2 payroll department withhold another $450 A MONTH in Federal tax. You can also have a little more withheld on your state income and can discuss the state tax rate with the payroll department.