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How to calculate estimated tax payments when income varies
How do I calculate my estimated tax payments when I honestly do not know how much my freelance business will make?
For example income:
Q1 - $15,000
Q2 - $6,000
Q3 - $12,000
Q4 - $30,000
This income is in addition to a W2 salary of 120k. I freelance in addition to my main job. How would I calculate this when my extra income is unknown and varies greatly and my main gig with the W2 is obviously already taxes paid. Located in Wisconsin.
‎January 20, 2025
3:03 PM