Quarterly taxes

danielle_b4424 — Tue, 24 Feb 2026 07:03:01 GMT

Hi! I'm not sure where to start with quarterly taxes. I have been self employed for almost 2 years but I only do taxes at the end of the year. What is the benefit doing it quarterly?

Re: Quarterly taxes

MarthaT — Wed, 30 Aug 2023 20:27:55 GMT

Hello and thank you for your question. The advantage of paying self-employment taxes quartely is that you avoid penalties and you avoid paying a lump sum at the end of the year. Sometimes you might have zero Federal Income tax but you might have Self-employment tax. The self-employment tax is the social security and medicare as employee and employer from your net income on your business (Schedule C). It is 15.3% (12.4% SS + 2.9% Medicare) of your net income. You can find more information at A Guide to paying quartely taxes at https://turbotax.intuit.com/tax-tips/self-employment-taxes/a-guide-to-paying-quarterly-taxes/L6p8C53xQ.

I hope this answered your question

topic Quarterly taxes in Self employed

Quarterly taxes

Re: Quarterly taxes