Quarterly Tax Calculator
Calculate estimated quarterly taxes for self-employed individuals. Includes federal and self-employment tax.
What's Included:
- Quarterly income and expense entry with automatic net profit calculation
- Federal income tax estimate using current-year tax brackets
- Self-employment tax calculator for Social Security and Medicare
- Payment voucher generator with amounts and due dates for all four quarters
Available Formats:
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Self-employed individuals must pay estimated taxes quarterly or face underpayment penalties. This calculator removes the guesswork by applying current tax brackets and self-employment tax rates to your quarterly income, giving you an exact payment amount for each quarter.
The most common mistake is using last year's income to estimate this year's taxes. If your income is growing, you will underpay and owe penalties. This template uses your actual quarterly income as you earn it, so your estimated payments stay in sync with your real tax liability.
How to Use This Template
Enter Quarterly Income and Expenses
Input your gross income and deductible expenses for the quarter. The template calculates your net self-employment income.
Review Tax Estimates
The template applies current federal tax brackets and self-employment tax rates to calculate your estimated payment amount for the quarter.
Make Your Payment
Use the payment voucher section to see the exact amount due and the IRS deadline. Set a reminder to pay before the due date to avoid penalties.
Frequently Asked Questions
When are quarterly estimated tax payments due?
Q1: April 15, Q2: June 15, Q3: September 15, Q4: January 15 of the following year. If a due date falls on a weekend or holiday, the deadline moves to the next business day. This template includes all four due dates with payment amounts.
How do I avoid underpayment penalties?
Pay at least 90% of your current-year tax liability or 100% of last year's liability (110% if your AGI was over $150,000), whichever is less. This template calculates the safe harbor amount so you know the minimum to pay each quarter.
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