rangda00
Returning Member

Self employed

Thank you. My concern is this: I am paying 90% of the self employment tax quarterly (medicare and social security). But I don't think the IRS asks for quarterly federal tax payments. Is that true? I worried that I would get hit with a big tax bill for federal taxes at the end of the year. But if I am making under 10k, I thought I might not owe much in federal taxes after the standard deduction and maybe the earned income credit.  Is that true? Am I getting that right?