Hi! I had a W2 job up until 7/31/2023, and I started a 1099 freelance job June 2023. My husband has a W2 job. When estimating quarterly taxes, do I include his income? Thanks!
Most likely your husband's W2 income will have withholdings. You do not need to include that as part of your quarterly payments. I would take a look at this article we have to get you started: TurboTax estimated payments help. The first year as a 1099 employee is the trickiest to calculate. You may not get it exactly right this year and that's ok. The basic equation is to take a look at what you think you will make this year + what you think your husband will make this year then your quarterly payments should be a percentage of your income based on which tax bracket you fall in to. Don't forget to include any other income such as 1099s from investments in this calculation. TurboTax tax bracket calculator.