SwapnaM
Employee Tax Expert

Self employed

TurboTax does have Calculators to help figuring out your estimated taxes: Please check out https://turbotax.intuit.com/tax-tools/

If you are using TurboTax for  filing your 2022 tax return, then the software can also help with figuring out the estimated taxes: https://ttlc.intuit.com/turbotax-support/en-us/help-article/estimated-taxes/turbotax-calculate-next-... 

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)

There are two additional IRS-approved methods available:

  • 100% of your estimated 2023 taxes
  • 66 2/3% of your estimated 2023 taxes (farmers and fishermen only)

 

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