FREELANCE QUARTERLY TAX CALENDAR
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Due dates, calculation methods, and payment instructions for freelancers.
Free resource from SoloStack — solostack.madethis.app/resources/freelance-taxes-guide


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THE 4 QUARTERLY DUE DATES
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  Q1  Income earned Jan 1 – Mar 31   →  Pay by APRIL 15
  Q2  Income earned Apr 1 – May 31   →  Pay by JUNE 15
  Q3  Income earned Jun 1 – Aug 31   →  Pay by SEPTEMBER 15
  Q4  Income earned Sep 1 – Dec 31   →  Pay by JANUARY 15 (next year)

NOTE: If a due date falls on a weekend or federal holiday, the deadline
moves to the next business day. Always check irs.gov for the current year's
exact dates.

WHY QUARTERLY PAYMENTS EXIST:
The U.S. tax system is "pay as you go." W-2 employees have taxes withheld
from every paycheck. As a freelancer, no one withholds for you — you're
responsible for paying throughout the year. If you wait until April 15 to
pay your entire annual tax bill, you'll owe an underpayment penalty.


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HOW TO CALCULATE YOUR ESTIMATED PAYMENT
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METHOD 1: PRIOR YEAR SAFE HARBOR (Easiest — Recommended)
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Pay 100% of what you owed in taxes last year, spread over 4 equal payments.
If your prior year adjusted gross income (AGI) was over $150,000, pay 110%.

EXAMPLE:
  Prior year total tax (from line 24 of last year's Form 1040): $12,000
  Income < $150k → divide by 4: $3,000 per quarter

  Q1 payment (due April 15):     $3,000
  Q2 payment (due June 15):      $3,000
  Q3 payment (due September 15): $3,000
  Q4 payment (due January 15):   $3,000

ADVANTAGE: You are 100% protected from underpayment penalties using this
method, even if your income doubles this year. Pay extra in April if you
had a great year — but you won't be penalized.


METHOD 2: CURRENT YEAR ESTIMATE (More Accurate)
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Pay 90% of the tax you expect to owe for the current year.

Step 1: Estimate your net profit
  Projected gross income
  - Projected business expenses
  = Estimated net profit

Step 2: Calculate self-employment tax
  Net profit × 0.9235 (IRS adjustment) = net earnings from SE
  Net earnings from SE × 15.3% = SE tax
  SE tax ÷ 2 = SE tax deduction (you deduct half)

Step 3: Calculate income tax
  Net profit - (SE tax ÷ 2) = adjusted income
  Apply your federal tax bracket to get income tax

Step 4: Add them
  SE tax + income tax = total estimated tax for the year
  Divide by 4 = quarterly payment

SIMPLIFIED RULE OF THUMB:
  If you're in the 22% income tax bracket:
  SE tax (15.3%) + income tax (22%) ≈ 37% of net profit
  Set aside about 30–35% of each payment received.

  If you're in the 12% income tax bracket:
  SE tax (15.3%) + income tax (12%) ≈ 27% of net profit
  Set aside about 25–30% of each payment received.


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WHAT THE PAYMENT COVERS
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Each quarterly payment covers:
  1. Federal income tax (based on your tax bracket)
  2. Self-employment tax (15.3% = 12.4% Social Security + 2.9% Medicare)

These are your TWO biggest tax obligations as a freelancer. Social Security
and Medicare are together called "FICA" — for W-2 employees, employers pay
half. As a freelancer, you pay the full 15.3%. However, you get to deduct
50% of it as an "above the line" deduction on your federal return.

  Self-employment tax on $80,000 net profit example:
  $80,000 × 0.9235 = $73,880 (net SE earnings)
  $73,880 × 15.3% = $11,304 in SE tax
  $11,304 ÷ 2 = $5,652 deduction from income

Don't forget STATE estimated taxes if your state has income tax.
Most states follow a similar quarterly schedule. Check your state's
department of revenue website for specific due dates.


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HOW TO PAY: IRS DIRECT PAY
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IRS Direct Pay is the official, free payment portal. Takes about 5 minutes.

Step-by-step:
  1. Go to irs.gov/payments
  2. Click "Pay Now with Direct Pay"
  3. Select "Estimated Tax" as the reason for payment
  4. Select "1040-ES" as the form type
  5. Select the tax year you're paying for
  6. Enter the tax period (Q1, Q2, Q3, or Q4)
  7. Verify your identity with prior year tax return info
  8. Enter your bank account (checking or savings) for the payment
  9. Select your payment date (can schedule up to 30 days in advance)
  10. Review and submit — SAVE YOUR CONFIRMATION NUMBER

IMPORTANT: Print or screenshot the confirmation page. The IRS does not email
you a receipt. Your bank statement showing the debit is also good documentation.

ALTERNATIVE PAYMENT METHODS:
  □ EFTPS (Electronic Federal Tax Payment System) — eftps.gov
    Better for businesses making large or frequent payments
  □ IRS2Go mobile app
  □ Credit card via third-party processor (ACI Payments, PayUSAtax)
    NOTE: These charge a convenience fee (typically 1.8–2.0%) — not recommended
    unless you're earning credit card rewards that exceed the fee

SCHEDULING TIP: You can set up all 4 quarterly payments at the start of the
year through EFTPS. Log in once, schedule four payments for April 15,
June 15, September 15, and January 15. Done for the year.


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WHAT IF YOU MISS A PAYMENT?
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The penalty for underpayment is currently about 6% annualized on the
underpaid amount. For a $3,000 missed payment over one quarter (3 months):
  $3,000 × 6% × (3/12) = approximately $45 penalty

It's not catastrophic. Do NOT skip the next quarter trying to "catch up"
all at once — just pay the next quarter on time and plan to square up
at the April 15 annual filing deadline.

You will NOT owe a penalty if:
  □ You used the prior year safe harbor method (paid 100% of prior year tax)
  □ Your total tax for the year was under $1,000
  □ You paid at least 90% of the current year's tax on time

UNDERPAYMENT PENALTY FORM: IRS Form 2210 (your tax software calculates this)


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QUARTERLY PAYMENT LOG (Fill in each quarter)
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Q1 (Due April 15, ____):
  Amount: $ ______________
  Date paid: _____________
  Confirmation #: ________

Q2 (Due June 15, ____):
  Amount: $ ______________
  Date paid: _____________
  Confirmation #: ________

Q3 (Due September 15, ____):
  Amount: $ ______________
  Date paid: _____________
  Confirmation #: ________

Q4 (Due January 15, ____):
  Amount: $ ______________
  Date paid: _____________
  Confirmation #: ________

Total paid for year: $ ______________ (compare to final tax bill in April)


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FREE RESOURCES
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• Freelance Tax Checklist → solostack.madethis.app (free download)
• Tax Deductions List → solostack.madethis.app (free download)
• Budget & Income Tracker → solostack.madethis.app/resources/freelance-budget-template
• Full Taxes Guide → solostack.madethis.app/resources/freelance-taxes-guide

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solostack.madethis.app — Templates for freelancers and solopreneurs
This file is free to download, use, and share.
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