Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
sandra-hewson
New Member

For 2019 I will be self employed and regularly employed (2 different jobs). How do I start paying self employment taxes on my independent contractor job?

 
1 Best answer

Accepted Solutions
CherylW
Level 3

For 2019 I will be self employed and regularly employed (2 different jobs). How do I start paying self employment taxes on my independent contractor job?

It sounds like you'd like to pay estimated taxes for next year.

To set those up in Deluxe:

1.  Click Federal on the left-hand side menu.

2.  Click Other Tax Situations across the top.

3.  Click See all uncommon tax situations.

3.  Scroll down to Other Tax Forms.

5.  Click Start or Revisit by Form W-4 and Estimated Taxes.

Click No on the Adjust How Much Tax You Pay screen.

Click Review Now on the Review your Estimates? page.

Walk through the interview using next year's estimated income to print out your estimates.  This, from Turbo Tax help, tells you how to estimate your total self-employment/independent contractor job wages:

Estimating Your Self-Employment Income

Include your self-employment income (or loss) from a business you own as a sole proprietor and any other self-employment income (or loss) you expect, such as freelance and consulting fees, or income from farming or partnerships. We use this amount to calculate your self-employment tax.

If you also have an employer, we take into account your wages so that we don't calculate too much self-employment tax for you.

Your self-employment tax consists of:

 - Social security taxes, taxable only up to a maximum wage base

 - Medicare taxes, taxable on all of your self-employment income and wages. There's no upper limit, as there is with Social Security taxes. We'll include the Medicare taxes on all of your self-employment income, no matter how much salary you earn.

View solution in original post

1 Reply
CherylW
Level 3

For 2019 I will be self employed and regularly employed (2 different jobs). How do I start paying self employment taxes on my independent contractor job?

It sounds like you'd like to pay estimated taxes for next year.

To set those up in Deluxe:

1.  Click Federal on the left-hand side menu.

2.  Click Other Tax Situations across the top.

3.  Click See all uncommon tax situations.

3.  Scroll down to Other Tax Forms.

5.  Click Start or Revisit by Form W-4 and Estimated Taxes.

Click No on the Adjust How Much Tax You Pay screen.

Click Review Now on the Review your Estimates? page.

Walk through the interview using next year's estimated income to print out your estimates.  This, from Turbo Tax help, tells you how to estimate your total self-employment/independent contractor job wages:

Estimating Your Self-Employment Income

Include your self-employment income (or loss) from a business you own as a sole proprietor and any other self-employment income (or loss) you expect, such as freelance and consulting fees, or income from farming or partnerships. We use this amount to calculate your self-employment tax.

If you also have an employer, we take into account your wages so that we don't calculate too much self-employment tax for you.

Your self-employment tax consists of:

 - Social security taxes, taxable only up to a maximum wage base

 - Medicare taxes, taxable on all of your self-employment income and wages. There's no upper limit, as there is with Social Security taxes. We'll include the Medicare taxes on all of your self-employment income, no matter how much salary you earn.

Dynamic AdsDynamic Ads
Privacy Settings
v