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Self employed
Thanks @rwhalen1 for your question!! Congratulations on your new business!!
If you have used the TurboTax software to file your 2022 tax returns, based on your 2022 tax info, we’ll use the lower of the following IRS-approved methods to calculate your estimated tax payments.
- 90% of your estimated 2023 taxes
- 100% of your actual 2022 taxes (110% if your adjusted gross income was higher than $150,000, or $75,000 if Married Filing Separately)
TurboTax help article: How does TurboTax calculate my estimated tax payments?
Starting a new business-Tax implications!
You can also try using the Taxcaster tool: https://turbotax.intuit.com/tax-tools/calculators/taxcaster/
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August 30, 2023
12:11 PM