Estimated Tax payments

[ron komora]

The  IRS estimated tax calculator doesn't work for me at this time as I don't have all my W.  2s & 1099s in yet.  But I do keep track of my 1099 totals on my own.  If I total these up and, I have a pretty good idea of my 2021 untaxed  income.  I am in the 24% tax bracket.  To get an idea of my tax liability do I just multiply the toal income by 24%, or do I need to add 15.3% self-employment tax for a total of 39.3%?

[Bsch4477]

It’s more complicated than that since your tax is calculated at each successive bracket. See below. 

While your self employment income is added to your other income, your self employment tax of 15.3% course only applies to the self employment income. 

https://www.nerdwallet.com/article/taxes/federal-income-tax-brackets

[DawnC]

For self-employment income (1099-NECs), you need to add the 15.3% for the Self-Employment tax, but not for the W-2 income.   You probably have expenses that will offset some of your self-employment income, so your estimate may be high.   

Here is a TurboTax estimator below you can use, and when you use either the IRS or the TurboTax estimator, use the totals you have kept records of to give you an idea of where you are.  You have had withholding on your W-2 income, but depending on other factors, you may have had too much or too little withholding on your W-2 income.  

TaxCaster