Quarterly Estimated Tax Calculator
Determines how much self-employed individuals should pay each quarter to avoid penalties
From W-2 jobs or other withholding sources.
Rough estimate using 25-30% effective rate
Annual tax minus amounts already withheld
Remaining tax divided into 4 equal payments
- Q1: April 15
- Q2: June 15
- Q3: September 15
- Q4: January 15 (next year)
Frequently Asked Questions
Who needs to pay quarterly estimated taxes?
Anyone who expects to owe $1,000 or more in federal taxes after subtracting withholding and credits. This includes freelancers, self-employed individuals, sole proprietors, partners, and S-corp shareholders with significant non-wage income.
When are quarterly estimated taxes due?
Q1: April 15, Q2: June 15, Q3: September 15, Q4: January 15 of the following year. If the due date falls on a weekend or holiday, the deadline moves to the next business day.
What happens if I miss a quarterly payment?
The IRS charges an underpayment penalty, currently based on the federal short-term rate plus 3 percentage points. You can avoid penalties by paying at least 90% of your current year tax or 100% of your prior year tax (110% if AGI exceeded $150,000).
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