JBedford
Employee Tax Expert

Self employed

Hi, @Denealla , thanks for the questions! 

 

The bare minimum you should pay in estimated payments is 100% of your 2022 tax liability from Line 24 of your Form 1040. If you make over $150,000 if married filing jointly in self-employment income, then you should pay 110% of that number. You would pay this in four quarterly payments of 25% (or 27.5%) each. This will allow you to avoid an underpayment penalty. Also, don't forget to count any other tax payments you make, such as your withholding from your jobs. This will reduce the amount you need to pay.

 

TurboTax can help you file with the different types of income. You would simply include both of your jobs in the "Wages and Salaries" section, and your side gig income in the "Self-Employment" section. 

 

Hope this helps, please let me know if not!

 

 

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