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What dates are quarterly estimated taxes due for U.S. Freelancers?

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Question: What dates are quarterly estimated taxes due for U.S. Freelancers?

Web designers often work as freelancers, and need to pay taxes on their earnings, just like any other job. But becuase you don’t have an employer taking money out of your paycheck every month, you will need to send a check to the IRS once a quarter. These are called quarterly estimated taxes.

As a freelancer, you should expect to pay estimated quarterly taxes if:

  • You expect to owe at least $1000 in taxes for the year
  • Or your withholding (from a non-freelancing job, for example) does not cover at least 90% of the taxes that you will owe for the year

There are other reasons you may need to pay estimated taxes, but those are the most common reasons freelancers would have to. Please see an accountant or tax adviser for suggestions regarding your specific situation.

Answer:

2013 Tax Year

For the 2013 tax year, the estimated taxes are due:

  • April 15, 2013—estimated tax payment due for first quarter 2013.
  • June 17, 2013 — estimated tax payment due for second quarter 2013.
  • September 16, 2013 — estimated tax payment due for third quarter 2013.
  • January 15, 2014 — estimated tax payment due for fourth quarter 2013.

If you are going to file and pay all your taxes by January 31, 2013, you can include your fourth quarter payment in that packet. Otherwise, you should pay it by January 15th.

2012 Tax Year

For the 2012 tax year, the estimated taxes were due:

  • April 17, 2012—estimated tax payment due for first quarter 2012.
  • June 15, 2012 — estimated tax payment due for second quarter 2012.
  • September 15, 2012 — estimated tax payment due for third quarter 2012.
  • January 15, 2013 — estimated tax payment due for fourth quarter 2012.

If you are going to file and pay all your taxes by January 31, 2012, you can include your fourth quarter payment in that packet. Otherwise, you should pay it by January 15th.

Other Information Regarding Estimated Taxes

Your estimated taxes must have a postmark of the above dates to be considered on time.

Review the Estimated Taxes section of the IRS website for more information on estimated taxes.

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