Quarterly Estimated Tax Calculator
Calculate quarterly estimated tax payments for self-employed individuals
About this calculator
The Quarterly Estimated Tax Calculator helps self-employed individuals, freelancers, and business owners determine how much they need to pay in estimated taxes each quarter. Since self-employed workers don't have taxes automatically withheld from their paychecks, they must make quarterly payments to avoid penalties and interest charges. This calculator estimates your tax liability based on your expected annual income, deductions, and self-employment tax, ensuring you stay compliant with IRS requirements and avoid underpayment penalties.
How to use
Enter your expected annual income from self-employment, business deductions, and any tax credits you qualify for. The calculator will compute your total tax liability including self-employment tax and divide it by four to show your quarterly payment amount. Make these payments by the quarterly due dates to stay current with the IRS.
Frequently asked questions
When are quarterly estimated tax payments due?
Quarterly payments are due on January 15, April 15, June 15, and September 15 for the previous quarter's earnings.
Who needs to make quarterly estimated tax payments?
Self-employed individuals, freelancers, contractors, and business owners who expect to owe $1,000 or more in taxes annually.
What happens if I don't make quarterly payments?
You may face underpayment penalties and interest charges from the IRS, even if you pay your full tax bill by the filing deadline.