What
are estimated taxes?
https://ttlc.intuit.com/replies/3301588
Do I
need to make estimated tax payments to the IRS?
PAYING ESTIMATES
For SE self employment tax - if you have a net
profit (after expenses) of $400 or more you will pay 15.3% for 2015 SE
Tax on 92.35% of your net profit in addition to your regular income tax on it.
So if you have other income like W2 income your extra business income might put
you into a higher tax bracket.
You must make quarterly estimated tax payments
for the current tax year (or next 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.)
https://ttlc.intuit.com/replies/3301891
How
do I make estimated tax payments?
https://ttlc.intuit.com/replies/3301258
Can
TurboTax calculate next year's federal estimated taxes?
https://ttlc.intuit.com/replies/4242911
Can
TurboTax calculate the estimated payments for next year's state taxes?
https://ttlc.intuit.com/replies/3301735
