Quarterly Tax Estimator
Estimate your quarterly estimated tax payments.
Calculate how much to pay each quarter based on expected income and deductions.
How Quarterly Estimated Taxes Work
Self-employed individuals, freelancers, and those with investment income must pay taxes in four installments throughout the year. The IRS expects you to pay as you earn — not just at April 15.
Who must pay quarterly taxes:
You owe quarterly taxes if you expect to owe $1,000 or more in federal tax for the year after withholding and credits.
2024 due dates:
| Quarter | Income Covers | Due Date |
|---|---|---|
| Q1 | Jan 1 – Mar 31 | April 15 |
| Q2 | Apr 1 – May 31 | June 17 |
| Q3 | Jun 1 – Aug 31 | September 16 |
| Q4 | Sep 1 – Dec 31 | January 15 (next year) |
Estimated payment formula (safe harbor method):
Quarterly payment = Prior year total tax ÷ 4
If you paid $12,000 in federal tax last year:
Each quarterly payment = $12,000 ÷ 4 = $3,000
Paying 100% of last year’s tax (110% if income > $150,000) avoids underpayment penalties regardless of this year’s actual income.
Current-year method formula:
Quarterly payment = (Estimated annual net income × Tax rate − Expected deductions) ÷ 4
Self-employment tax (SE tax):
Self-employed individuals pay both halves of Social Security and Medicare:
SE tax = Net self-employment income × 0.9235 × 15.3%
The 0.9235 factor accounts for the deductible employer-equivalent half.
State taxes: Most states with income tax also require quarterly estimated payments. Check your state’s schedule — deadlines often differ from federal.
Use IRS Form 1040-ES to calculate and submit payments online at IRS Direct Pay.
How we build and check this calculator
This calculator runs entirely in your browser, so the numbers you enter stay on your device. The math behind it is written by hand and tested against worked examples and standard references before the page goes live.
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