RobertG
Expert Alumni

Get your taxes done using TurboTax

The best way to figure your quarterly taxes is to estimate your net earnings every three months and then pay a percentage of that to the IRS.

 

The IRS makes it easy to pay, just go to the IRS website: Paying Your Taxes

 

Figuring the amount to pay is harder, the Self Employment, (Social Security), tax rate is 15.3% and you have to pay income tax on top of that, of at least 10%.

 

The TurboTax article: A Guide to Paying Quarterly Taxes explains how to calculate the percentage of net income to pay.

 

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