How to make quarterly tax payments if you’re a freelancer or business owner

You can also skip estimated taxes and pay what you owe on Tax Day if the amount you owe is less than $1,000.
If you own a business or opt for a low withholding from your paycheck, you may have to pay quarterly taxes to avoid a penalty.
The IRS allows you to pay your quarterly estimated taxes with an electronic funds transfer, debit card, or credit card online.
Like everything tax-related, estimated taxes can be complicated. But there’s a simple way to pay enough to avoid penalties and interest.
See Personal Finance Insider’s picks for the best tax software »

Taxes are a fact of life for most Americans. But if you’re self-employed, have a side hustle, or have a low withholding rate on your paychecks, you might need to pay your taxes four times per year instead of the once-annual filing those who work regular full-time jobs have to manage. 

Income from capital gains, dividends, or distributions from your retirement account can also trigger an obligation to file estimated taxes,…

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This article was written by [email protected] (Laura McCamy,Sheneya Wilson, CPA) and originally published on