Question

Does it make sense that my 2021 adjusted income is 14,500 and I have to pay almost $600 in federal taxes (I had non withheld )?

Forum|Forum|4 years ago
April 16, 2022
2 replies
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TurboTax Self Employed Online

Employee

Maybe---since you are posting from Self-Employed that means you need to pay self-employment tax for Social Security and Medicare. You have not told us anything else about your filing status, dependents (if any) etc.

https://ttlc.intuit.com/community/self-employed/help/how-do-i-report-income-from-self-employment/00/26653

https://ttlc.intuit.com/community/self-employed/help/what-is-the-self-employment-tax/00/25922

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax

https://ttlc.intuit.com/questions/1901340-where-do-i-enter-schedule-c

https://ttlc.intuit.com/questions/3398950-what-self-employed-expenses-can-i-deduct

https://ttlc.intuit.com/questions/1901110-do-i-need-to-make-estimated-tax-payments-to-the-irs

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

M

Mike9241

yes. it is possible. your net Schedule C income is subject to a 14.1% net Self employment tax (see schedule SE). in addition, you're subject to income taxes on your net taxable income