Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
vdcalhoun
New Member

Quarterly payments

How to figure out how much to pay for a quarterly payment

1 Reply
HasaniJ
Employee Tax Expert

Quarterly payments

If this is your 1st year receiving self employed income calculating payments for quarterly taxes can be difficult.  You can do a general assumption and pay 10, 15, 20 of income you received and send in as an estimate.  You can also take a more measured approach and use the form Here.  In the end when you file if you under paid based on your estimates you'll make it up with a final payment and if you over paid you'll end up with a refund.  The 2nd year will be much better as you should receive vouchers that make recommendations to what the current year's payments should be.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Privacy Settings
v