Taxes

How much should I save for quarterly taxes?

Estimate quarterly taxes for self-employed income using your expenses and effective tax rates.

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Keep it simple with realistic rates.

What this means

Self-employed income can trigger both income tax and self-employment tax. Quarterly payments help avoid surprises.

What to do next

Save the quarterly estimate in a separate account and revisit when income changes.

FAQ

What tax rates should I use?

Use your best estimate of combined federal and state rates. Self-employment tax is often around 15.3%.

Is this an official IRS calculation?

No. It is a planning estimate to help you budget for quarterly payments.

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