I have become self employed and would like to file quarterly taxes for social security, welfare, income tax, etc. Can I do that through TT with my account?

[april-foxworth-1]

I am willing to pay an additional fee, but I do not want to wait until the end of the year to contribute to my SS and other taxes. I want to know if I can do this through turbo tax?

[DoninGA]

You cannot pay estimated taxes directly through TurboTax.   You can use the IRS payment website for the estimated tax payments - https://www.irs.gov/payments

[april-foxworth-1]

Thanks. Can I tie that to my account somehow so that I don't have to pull it in at the end of the year?

[VolvoGirl]

You send in quarterly estimated payments to cover the self employment tax (FICA).  

Turbo Tax will calculate the 1040ES estimated payments

https://ttlc.intuit.com/community/tax-payments/help/can-turbotax-calculate-next-year-s-federal-estim...

You must make quarterly estimated tax payments for the current tax year if both of the following apply:

- 1. You expect to owe at least $1,000 in tax for the current tax year, after subtracting your withholding and credits.

- 2. You expect your withholding and credits to be less than the smaller of:

    90% of the tax to be shown on your current year’s tax return, or

  100% of the tax shown on your prior year’s tax return. (Your prior year tax return must cover all 12 months).

How to make the Estimated payments

https://ttlc.intuit.com/community/tax-payments/help/how-do-i-make-estimated-tax-payments/00/25875

Here are the blank Estimates and instructions…..

http://www.irs.gov/pub/irs-pdf/f1040es.pdf

Self Employment tax (Scheduled SE) is automatically generated if a person has $400 or more of net profit from self-employment.  You pay 15.3% SE tax on 92.35% of your Net Profit (If it is greater than $400).  The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare.  So you get social security credit for it when you retire.  

[VolvoGirl]

Sorry you will have to manually enter the estimates you pay into Turbo Tax next year.  Should be easy to keep track of them.  It's only 4 times a year.  I'm paying my first one today.  It's due April 15.  Keep a list of payments in your business files like your expenses.    And of course in your tax file.

Do you use a program to track your finances and business income & expenses?  I use Quicken.