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Should I pay quarterly taxes for my side business (I'm also employed full time) or pay with my personal taxes next year?
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June 1, 2019
9:58 AM
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Really depends on how much the side business makes as a profit.
If you can just increase the withholding from W-2 job to take care of the income tax and self-employment tax you can do it that way, or make the estimated tax payments.
June 1, 2019
9:58 AM
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Right now, I'm making about $500-$600/month. I'm trying to figure out how to estimate AGI so I can go ahead and pay quarterly taxes. Would my AGI be my employed + side business income? Or only side business income since I'm filing through an EIN?
June 1, 2019
9:59 AM
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AGI would be business plus employment. Remember the self-employed business profit will have self-employment taxes, in addition to income taxes.
June 1, 2019
9:59 AM
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Does Turbo Tax have a service where I can calculate those amounts and get my estimated quarterly tax?
June 1, 2019
9:59 AM
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Yes,
Go to Federal Taxes
Other Tax Situations
scroll down to Other Tax Forms
then to W-4 and estimates.
Go to Federal Taxes
Other Tax Situations
scroll down to Other Tax Forms
then to W-4 and estimates.
June 1, 2019
9:59 AM
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Unfortunately I cannot find what you are looking for. Can you post a link?
June 1, 2019
9:59 AM
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<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/2584228-can-turbotax-calculate-next-year-s-federal-estimated-taxes...>
June 1, 2019
9:59 AM