Two Questions: I am self-employed through Younique
1. I think I need to put self-employment on the Form W-4, but when I read the instructions, it states "Self-employment...If you want to pay income and self-employment
taxes through withholding from your wages, you should enter the self-employment income on Step 4(a)." Then I look at Step 4(a), and it says "You shouldn’t include income from any jobs or self-employment." I'm confused as to what I should do.
2. I'm confused as to what I should select on Step 2. Would I select Multiple Jobs or "If there are only two jobs total..."?
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If you have a waged W-2 job and you want that job to withhold taxes for the other income you have ( the Sch C income from your side hustle) then you DO enter the net income expected from that job.
OR you can not put that income on the W-4 and either enter an amount per paycheck of your choosing on line 4c OR make quarterly estimated payments OR simply owe on your tax return and pay the taxes then.
All 4 methods are acceptable ... it is your choice.
If you have a waged W-2 job and you want that job to withhold taxes for the other income you have ( the Sch C income from your side hustle) then you DO enter the net income expected from that job.
OR you can not put that income on the W-4 and either enter an amount per paycheck of your choosing on line 4c OR make quarterly estimated payments OR simply owe on your tax return and pay the taxes then.
All 4 methods are acceptable ... it is your choice.
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