I have a full time "standard" job that withholds taxes and I get a W2 at the end of the year. I recently started a part time contracting job. I've been trying to figure out how to pay taxes on the part time job. I'm have no experience with this.
I have asked a question before and with some research I understand I have to make quarterly payments of Self Employment tax of 15.3% that covers both the employer part and employee part of
Social Security and Medicare.
My question now is does the 15.3% not include income tax?
If not how much is income tax % wise? and if I have to make a quarterly payment on that as well do I pay it at the same time or does it need a separate payment? Can both be paid on the IRS/payments page?
Please any information is helpful.
