Calculate how much you owe each quarter in estimated taxes. See due dates, safe harbor thresholds, and avoid IRS underpayment penalties.
If you expect to owe $1,000 or more in taxes when you file your return, you generally need to make quarterly estimated tax payments. This applies to freelancers, contractors, investors, and anyone with income that is not subject to withholding.
The IRS safe harbor rule lets you avoid underpayment penalties if you pay at least 90% of your current year tax liability, or 100% of your prior year tax liability (110% if your AGI exceeds $150,000). Meeting either threshold protects you from penalties.
Quarterly payments are due on April 15, June 15, September 15, and January 15 of the following year. If the due date falls on a weekend or holiday, the deadline moves to the next business day.
If you also have W-2 income with withholding, enter your total expected withholding to see how much additional estimated tax you need to pay each quarter. Your withholding counts as a credit against your total tax liability.