I receive a W-2 From my employer and I just started (10/31/2019) doing some consulting on the side. I received a 1099-MISC from the contracting company. I did not play any estimated taxes on the moneys earned from the consulting. Should I have filed estimated taxes and am I looking at paying a penalty now? Or because I have taxes taken out by my primary employer should that offset the tax liability from the estimated taxes? I understand that either way I will still need to file a Schedule C.
Thanks in advance
