I received a non-recurring payment from my employer for an earn out that we received from our acquiring company. This payment to me is classified as 1099 income, so I'll need to pay both employee and employer FICA taxes on this amount. This payment occurred in April, and I live in California, so my first quarterly tax payment is due on 10/15, due to the tax filing relief.
My other income, which represents the majority of income, is W-2 income.
When calculating the safe harbor amount (90% of current year tax or 110% of prior year's tax), do I need to account for Income Tax only or FICA taxes as well?
Related, is there a tool in my existing Turbo Tax account that would allow me to input all of my expected 2023 income and deductions, while also referencing my 2022 tax information, to confirm the amount of quarterly taxes that I need to pay?
