This week, my husband started a new job in which he is treated as a contractor of sorts and will receive a 1099-NEC instead of a W2. No taxes will be taken from his pay as is typical in this situation. I know that I should make quarterly estimated tax payments and have read the below articles to help me better understand everything we need to know.
My questions are:
- Am I right in understanding that the TurboTax Self-Employed "software" is what I can use to help me in estimating and making those payments?
- Does it calculate deductions for business expenses?
- Does it help me determine what I need to pay and to who (i.e. fed, state, SS, Medicare)?
- Is there a digital download version versus the "using it on the web" sort of of thing available?
Here are the articles I've reviewed up to this point:
Huge thanks in advance!
