💰Quarterly taxes break down your annual tax into four payments
🧾Calculate your estimated tax by setting aside 25-30% of your annual income
💳You can pay taxes using checks, credit cards, or electronic payment systems
📗Keeper tax app helps track transactions and file quarterly taxes
⏰Pay estimated tax payments on time to avoid fines and penalties
Why should freelancers pay quarterly taxes?
—Quarterly taxes break down your annual tax into manageable payments and help you avoid fines and penalties.
How much should freelancers set aside for taxes?
—Freelancers should set aside 25-30% of their annual income for taxes.
What are the options to pay quarterly taxes?
—Freelancers can pay quarterly taxes using checks, credit cards, or electronic payment systems like EFTPS or Direct Pay.
How can Keeper Tax help with quarterly taxes?
—Keeper Tax app tracks transactions and helps freelancers file their quarterly taxes easily and accurately.
What happens if freelancers don't pay quarterly taxes on time?
—Freelancers may incur fines and penalties for late or underpayment of quarterly taxes.
00:19Introduction to the importance of paying quarterly taxes for freelancers
02:37Explanation of what quarterly taxes are and how they break down annual taxes
04:54Understanding the process of setting aside a percentage of income for taxes
07:28Different payment options for quarterly taxes, including checks and electronic payment systems
09:56Using the Keeper Tax app to easily track transactions and file taxes
