Estimated Tax Payments Calculator
Calculate quarterly estimated tax payments for self-employed individuals and those with income not subject to withholding.
Income Sources
Deductions
2024 Standard deduction: $14,600 (Single) or $29,200 (MFJ)
Income Summary
Total Gross Income:$150000.00
Taxable Income:$125400.00
QBI Deduction:$10000.00
Filing Status:Single
Tax Calculation
Federal Income Tax:$23138.50
Self-Employment Tax:$7064.77
Social Security Tax:$5725.70
Medicare Tax:$1339.08
Total Tax Due
$30203.28
Federal income tax + Self-employment tax
Withholding vs Tax Due
W-2 Withholding:$15000.00
Remaining Tax Due:$15203.28
Quarterly Estimated Tax Payments
$3800.82 per quarter
Total annual payment: $15203.28
Payment Due Dates
| Quarter | Due Date | Payment |
|---|---|---|
| Q1 | April 15 | $3800.82 |
| Q2 | June 15 | $3800.82 |
| Q3 | September 15 | $3800.82 |
| Q4 | January 15 (next year) | $3800.82 |
Safe Harbor Rule
Pay 90% of current year tax ($27182.95) or 100% of prior year tax to avoid underpayment penalty.
Penalty may apply if underpayment exceeds $1000. Underpayment: $12182.95
Key Rules
- Estimated tax required if expected tax due exceeds $1,000 after withholding.
- Self-employment tax: 15.3% (12.4% SS up to $168,600 + 2.9% Medicare, no limit).
- QBI deduction: 20% of qualified business income, reduces taxable income.
- Quarterly due dates: April 15, June 15, September 15, January 15.
- Safe harbor: Pay 90% of current year or 100% of prior year tax.
- High income (AGI over $150K): Safe harbor increases to 110% of prior year.