<prompt> Human: Beyond whats included in the title I have a bonus of 15 to be paid out next march... how do I account for that for FY2017I didnt withhold federal. Fairly certain I have more tax liabilities as a contractor do I pay more? Do I pay taxes on my salary at year end or whatever the salary was per paycheck? If I was getting paid through a recruiter did I technically have two employers?Im 24 Single, Living Alone and just starting to get a better hold of my finances. or trying too at least  <response>: You could enter your info about self employment profit and anticipated W-2 income into an online tool like the Taxcaster web page to model your tax liability and compare that to the amount of income tax you expect to be withheld this year at the W-2 job.If you have not been making payments of estimated tax you might have an underpayment penalty, but you could reduce that by increasing the amount withheld from paychecks at your W-2 job.Your next spring bonus will not influence your taxes this year. They depend on what income you realize in JanDec period. 