# Taxes for W2 + 1099

I have a full time job as a normal employee (W2) which pays \$127k / year. Having always been a W2, I know the familiar taxes on the check:

• Federal Income Tax
• State Income Tax (CA)
• SSI
• Medicare

I know that the total for SSI + Medicare is 15.3%, split evenly between employer and employee. I know there's formulas and stuff that determine FIT and SIT amounts (I think CA is very similar to the federal method, just on a smaller scale).

However, I now also have a 1099 situation, where it's \$45k / year. I know I have to do the taxes myself on that, but everywhere I've read, it only ever mentions the 15.3% FICA that I have to pay all of myself.

But I can't find anything that mentions FIT or SIT. I don't want to naively think "Great, I don't have to pay federal or state income taxes!" There's no way you simply get away with that. I want to set aside the money for taxes each time I get paid so that when it comes to tax time next year, I won't have any big surprises and will basically be squared away. But I can't find how I'm supposed to calculate federal and state taxes (not the flat 15.3% for FICA). I think I also read something about once your total income goes over \$150k combined W2 and 1099, the tax situation changes a bit too, so that complicates things further.

I just want to have an accurate figure of what I need to take out each time I get a check from the 1099 job, other than the 15.3% FICA figure, so that I don't still owe thousands to the IRS because I wasn't setting the right amount aside all year.

– user123993
Commented Jul 22, 2023 at 22:09
• This is way too wide. You're basically asking to explain to you how self-employment taxes and estimated tax payments work. Please go through the link in the previous comment and come back with a bit more focus. Commented Jul 23, 2023 at 0:53
• If you have both payroll (W2) and 'gig' (1099) income, instead of making actual estimated payments you can use W4 to request extra payroll withholding. 'FICA' (actually SECA) is 15.3% on 92.35% of 1099-NEC income less deductible expenses until it plus W2 income reaches the Social Security 'cap' which changes each year but for 2023 is \$160,200; for 2022 it was \$147,000 which may be the 'something' you read. Additional Medicare Tax also kicks in for earned income over \$250k MFJ \$125k MFS \$200k otherwise. Commented Jul 23, 2023 at 2:36