Hello,
I'm currently employed and receive a W2. I have already filed my taxes for 2019. However, recently I did a small consulting job for a friend's business and they paid me over $600, but less than $2,000. Understanding that I have to pay taxes on this amount according to the 1099-MISC I had a few questions.
- I understand that I have to prepay the taxes quarterly. However, does that only apply to the amount that I made in the 1099 or does that also incorporate my normal pay?
- I currently have Premier, can I file the necessary paperwork using this version or do I need to upgrade to another version?
- I have reached the IRS limit for Social Security in my current employer. Do I have to pay into it when submitting and will I receive back after filing next year?
Thank you
