Who must pay estimated tax
Individuals, including sole proprietors, partners, and S corporation shareholders, generally have to make estimated tax payments if they expect to owe tax of $1,000 or more when their return is filed.
Your income as given does not require estimated taxes, not until taxes owed exceed $1000
When revising calculations, Please don't forget self employment taxes on self employment.- Roughly calculated at 15.3% of self employment net income.
