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  • Re: I picked up a contractor job in June. I also work full time. Am I required to pay quarterly taxes this year? Can I file my 1099 with my W2 in 2021 without any penalties?
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Get your taxes done using TurboTax

If you expect to owe at least $1000 at tax time then you should make estimated payments to avoid an underpayment penalty.  You do not mention how much you have earned for your self-employment work.

 

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

 

https://ttlc.intuit.com/questions/2926899-how-does-my-side-job-affect-my-taxes

 

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

 

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

 

https://ttlc.intuit.com/questions/2903027-how-do-i-report-income-from-self-employment

 

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

 

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

 

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
‎November 16, 2020 7:25 AM
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