Quarterly payments, do i need to be making them?

Self employed 1099

18,500 agi this year approximately total

approximately 7,500 in deductions total

anything else?

penalties for not doing so?

493

Employee Tax Expert

Aug 30, 2023 9:34:18 AM

Hi J-A-Clark!

So you want to know if you should be making quarterly estimated tax payments? I've got you covered!

Thanks for providing your estimated AGI and deductions. There are a few more factors at play, so to et the best answer, I recommend using TurboTax Tools or calling in to speak with a live credentialed tax expert. I can give you an estimate, but it would be no good without knowing more information. TurboTax has tools for this. Check out the Self Employment Tax Calculator or TaxCaster Tax Calculator.

When you're ready to pay, go directly to the IRS website here, or to your state website to make the payment. Or, you can mail a check with the payment voucher that you can get TurboTax to generate for you.

Here are a few articles relevant to your question.
A Guide to Paying Quarterly Taxes

Estimated Taxes: How to Determine What to Pay and When

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Quarterly payments, do i need to be making them?