A little of both. Your Medicare and SS taxes are your self-employment taxes. TurboTax will calculate your total for Self-Employment taxes at the end of the year when you file your annual return. However, you are supposed to make the payments quarterly. You can use the estimator on TurboTax, of you can use QuickBooks Self-employed to track your income and expenses. This will also tell you how much you should actually pay each quarter which will keep you from having an underpayment penalty at the end of the year or having to pay a large lump sum at the end of the year.
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