Vanessa A
Expert Alumni

Get your taxes done using TurboTax

No, you should file quarterly taxes to cover the 15.3% on your SE Income.  If you wait to pay until you file your tax return with your W-2 next year, you may owe a underpayment penalty.  You can have an extra amount withheld on your regular pay by changing your W-4 with your employer. So if you are paid weekly and plan to make $150 a week you could have an extra $20 withheld from your wages to avoid having to pay quarterly.  However, you should still make the first quarterly payment. 

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