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Get your taxes done using TurboTax
Use your best guess for what you think you will make this year. You can change the W4 as often as needed and you can file quarterly estimates when needed. Some people are able to make the W4 at work hold out enough by counting the 15.3% self employment tax plus earnings in with their wages. For most people, it is easier to just fill out the quarterly payment.
Because self- employed is a bit of a guessing game, you have to change your numbers when you realize how things are going. I suggest you go through the 1040ES calculations each quarter to make sure you are on track. Pay any estimated tax due quarterly.
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‎January 22, 2020
2:15 PM