Everything You Need to Know About Paying Quarterly Taxes

💰Small business owners need to pay quarterly taxes if they owe more than $1,000 in taxes per year.

📅Quarterly tax payments are due in April, June, September, and January.

🧮Use a simple formula to estimate your quarterly tax payments based on your income and tax bracket.

🕛If you don't have a tax preparer or your business didn't exist last year, estimate your quarterly payments as a percentage of your income.

🔒Pay your quarterly taxes on time to avoid penalties and use the IRS website or tax calculators to help with calculations.

Who needs to pay quarterly taxes?

—Small business owners who owe more than $1,000 in taxes per year should pay quarterly taxes.

When are quarterly taxes due?

—Quarterly taxes are due in April, June, September, and January.

How much should I pay in quarterly taxes?

—Use a simple formula to estimate your quarterly tax payments based on your income and tax bracket. If you don't have a tax preparer or your business didn't exist last year, estimate based on a percentage of your income.

What happens if I don't pay quarterly taxes?

—Failing to pay quarterly taxes can result in penalties. It's important to pay on time to avoid these penalties.

Where can I find help with calculating my quarterly taxes?

—You can use the IRS website or tax calculators to help with estimating your quarterly tax payments.

00:00This video covers everything you need to know about paying quarterly taxes as a small business owner.

01:41Learn how to estimate your quarterly tax payments based on your income and tax bracket.

04:58Understand the importance of paying on time and how to avoid penalties.