Should you firmly believe that by the end of the tax year you will definitely have SELF-EMPLOYMENT INCOME, then you should assign to Estimated Tax Payments about 15.3% of your Self-Employment Earnings.
In addition, I am assuming that your LLC is a Single-Member LLC (SMLLC) and that you have NOT made an Election to be treated as a different Tax Entity, thus, any income derived from your business activities will flow to your personal tax return using IRS Form Schedule C (Profit or Loss from Business).
Should you actually overpay your taxes, you will get a refund, however, should you underpay your taxes, in addition to the money that you already owe, you will be hit with penalties and interests.
You can have a more accurate calculation of your Estimated Tax Payments by using a Tax Calculator where you can input the other circumstances surrounding your next year tax filing obligations (ALL SOURCES OF INCOME, 1099's, W-2's, etc.).
Tax Calculator 2023
Lastly, below are the Estimated Taxes Deadlines:
1. April 15th
2. June 15th
3. September 15th
4. January 15th
When to Pay Estimated Tax
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
