topic If I pay estimated quarterly taxes, will I be paying at the end of the year? in Get your taxes done using TurboTax

If I pay estimated quarterly taxes, will I be paying at the end of the year?

elizabethgmaya — Thu, 06 Jun 2019 13:40:21 GMT

As the question above asks, I recently got hired by lyft and have already signed up with quickbooks self-employed and purchased the bundle for next year. I'm starting to pay quarterly taxes beginning Sept 15th, but I want to know if I should be reserving more money from my lyft income for the end of the year?

It depends on how accurate your estimates are. You owe e...

Opus 17 — Thu, 06 Jun 2019 13:40:23 GMT

It depends on how accurate your estimates are. You owe estimated payments 4 times a year; April 15, June 15, Sept 15 and January 15 (and yes, the dates are not evenly spaced). Then you prepare a tax return that calculates your actual tax owed. If you paid more in estimates, you get a refund, and if you underpaid your estimates, you will owe the rest when you file the return.