drc845443
Employee Tax Expert

Business & farm

I appreciate that sales based commission income fluctuates over the year, but you have to do your best to estimate how much income you will make for the year.

 

Using that estimate of your annual income, you can estimate the amount of taxes you can expect to pay for the year. You can use online tools like TaxCaster (see link below) to calculate your estimated tax liability for the year, then divide this amount by 4 to come up with your quarterly estimated tax payment.

 

Tax Calculator - Tax Refund & Return Estimator 2023-2024 | TurboTax® Official (intuit.com)

 

You can refine your estimate at the end of each quarter as your annual income becomes easier to estimate based on actuals from the previous quarters.

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