So after this year‘s done will be the first full year I was self-employed and the company I was doing business with sent all of my information to intuit QuickBooks. I’ll say I have made about 18000 once the year is complete I live in Georgia. What do you estimate the amount I will have to pay in taxes if I’m single I didn’t do any withholdings or anything ,and also what is the latest I can pay as in when are they due by? because Unfortunately I didn’t save and I’m probably going to want to earn at the top of the first quarter (of 2025) what I’m going to have to pay for this entire year of earnings (4 quarters of 2024) . thank you
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Dear Bruce901,
Our tax system is pay as you go. Since 2024 you were self -employed for full year, estimated taxes were due in four quarterly installments, April 15, June 15, September 15, 2024 and then January 15, 2025.
From your post it seems like you have not sent any estimates for the first 3 quarters. Here is a link called TurboTax's TaxCaster tax calculator, please drop in your numbers here and calculate the tax liability to pay by the deadline for the 4th Quarter Estimated Tax Payment deadline of January 15, 2025. This will be your tax liability for the entire earnings of Tax Year 2024.
https://turbotax.intuit.com/tax-tools/
Hope this helps.
Have an amazing day.
Amita R (CPA 10+ years)
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