Can I contribute an additional amount to taxes from my W-2 job to cover my business taxes?

I ask this because of quarterly estimated taxes, wondering If I can just put a token amount in, and as long as I don't owe more than 1k at the end of the year I will be free from penalties?

posted

Yes you can increase your W2 withholding to cover your self employment tax. You don't have to send in any 1040ES estimated payments. They are a suggestion and optional to pay.