AmyC
Expert Alumni

Get your taxes done using TurboTax

Not an offset, a reduction. SE tax is self-employment tax - the Medicare and Social Security tax that w2 jobs take out when paid. Wherever you have self-employed income flowing in,  that creates the tax. I know you have the Lyft on Sch C. You may have a k-1 with income earned that requires the SE tax since none was withheld.

You should be making estimated tax payments throughout the year when you have a Sch C. At least one each quarter but you can make a payment each paycheck or however you want to work it out. You don't want to owe a lot of money and have penalties added on top.

 

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