Hello antd1125,
You don't mention if you have a W-2 job in addition to your Single Member LLC.
The IRS requires that taxes are paid as you go instead of waiting to make a lump sum at the end of the year. This article from the IRS.gov will help explain: Pay As You Go, So You Won't Owe: A Guide to Withholding, Estimated Taxes, and Ways to Avoid the Est...
You will need to calculate what your estimated tax will be for 2024. This will be the amount you want to submit as estimated tax payments. You would then submit your 3rd and 4th quarter estimated payments to cover this amount. You can submit your estimated payments online at the IRS website or you can print the estimated voucher and mail it to the IRS with a check or money order.
If you did have a w-2 job or are filing a joint return with a spouse who has a w-2 job, you will need to calculate what your estimated tax will be for 2024 and the subtract what has been submitted so far as withholding. The balance left after subtracting withholding would be the amount you want to submit as estimated tax payments. You would then submit your 3rd and 4th quarter estimated payments to cover this amount. You can submit your estimated payments online at the IRS website or you can print the estimated voucher and mail it to the IRS with a check or money order.
TurboTax's Tax Caster tax calculator is a good tool to help you estimate your 2024 tax bill or see if you may get a refund.
Here are some helpful links with additional information on how and when to make estimated payments.
Estimated Taxes: How to Determine What to Pay and When
When to pay estimated tax
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