I just started as an Independent Sales Consultant in January. I am considered Self-Employed and need to make estimated quarterly payments. How do I do that in Turbo Tax?

TurboTax has a place to compute estimated payments. Estimating your income is hard if you just started. However it's important to make some estimated payments. 

 

The IRS taxes you on income minus expenses, but you also have to pay your own Social Security and Medicare tax.

 

Many people don't and find out they can't pay their tax bill and go on a payment plan that never ends because they're always paying off past taxes so there's no money for estimates.

 

To calculate estimated payments:

• Type W-4 in Search in the upper right
• Select Jump to W-4
• Skip the screen Adjust How Much Tax You Pay by saying NO to Do you want to change your W-4 withholdings for 2021
• Say Prepare Now to Estimated Taxes for 2021
• Say Yes to Review Your Estimates for 2021
• Enter your estimated income amounts
• Keep going until you see Print Vouchers? Say YES.