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How much self-employment income do I need to earn before having to pay quarterly estimated taxes?
You usually must make estimated tax payments if both of these apply:
Estimated tax is the method you use to pay tax on income not subject to withholding, including:
You also might have to pay estimated tax if the amount of income isn’t enough that you’re withholding from your:
Estimated tax is used to pay both income tax and self-employment tax, as well as other taxes and amounts on your return. If you don't pay enough by the due date of each payment period, you might be charged a penalty. This applies even if you're due a refund.
Your self-employment income minus expenses might be $400 or more. If so, you're required to file Schedule SE to calculate self-employment taxes.