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info19
New Member

Do I pay SE tax separate from Federal taxes?

First year running a business here and new to Self Employment tax.  I see the Schedule SE is part of my tax return and SE tax is listed on Line 57 of my 1040. 

Do I have to pay SE tax separate than federal, or is it calculate in conjunction with the federal return I filled?

Should I be paying quarterly next year?

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MardiK
New Member

Do I pay SE tax separate from Federal taxes?

Turbo Tax will factor in the amount of tax owed from self-employment on this year's return.

Anything over $400 earned from SE is taxable.  If you don't want to pay on it come April (and especially if you plan to earn a lot in '18) refer to this to calculate your quarterly payments.  https://www.irs.gov/pub/irs-pdf/f1040es.pdf

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MardiK
New Member

Do I pay SE tax separate from Federal taxes?

Turbo Tax will factor in the amount of tax owed from self-employment on this year's return.

Anything over $400 earned from SE is taxable.  If you don't want to pay on it come April (and especially if you plan to earn a lot in '18) refer to this to calculate your quarterly payments.  https://www.irs.gov/pub/irs-pdf/f1040es.pdf
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