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Bill, Financial Advisor
Category: Finance
Satisfied Customers: 3153
Experience:  EA, CEBS - 35 years experience providing financial advice
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I am self employed for the 4th quarter. I have never paid

Resolved Question:

I am self employed for the 4th quarter. I have never paid estimated taxes or social security other than through W-2. Am I paying the "whole" amount of estimated taxes (social security and income tax) to the IRS or do I have to make separate payments?
Submitted: 5 years ago.
Category: Finance
Expert:  Bill replied 5 years ago.
Yes, you would pay your self-employment social security taxes and federal income taxes to the IRS (assuming you are filing Schedule C as a sole proprietor). You would file Schedule SE to calculate the amount of social security taxes. Here is an IRS link which describes the filing requirements -
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