Figuring estimated quarterly taxes...

Go to the IRS website.

Form 1040 ES

Or use a program like Turbo tax and go to the form in it.

 

I just set aside 26% of my weekly gross. Once a quarter send that money into the IRS. Take your settlement, times .26, and every 13 weeks send all that money to the IRS.

 

How can you estimate your quarterlies with a "calculator". And then attempt to ask such a thing here? Only YOU know what your income and expenses are panning out every month.
For instance my CPA wants me to send him my results every quarter. Let him figure it out. That's what I pay him for. Yes it's a good idea to put $$ aside in case you have to pay taxes. I do that by putting so much away into a separate bank account.
To be honest though, I exercise as many tax avoidance schemes as I can. Who wants to pay one red cent to the IRS so those clowns in Govt can spend it like a drunken sailor...aka Obama and his quantative easing gang.
No crime to avoid paying any income taxes.
Good luck

 

We're paid 1099. I set aside 15% of our gross and submit it quarterly. I get a tax specialist to do my year end and when I add in the per diem, I end up having overpaid which is to my mind always best. You can't go wrong overpaying your taxes.

 

Fandango you're absolutely right......evasion is illegal but avoidance isn't!

 

You can thank our administration for the 'self-employtment ' tax now too.....

I felt I paid a lil too much for 2013.....

Like that 1 guy said.....Figure about 25% of your quarterly EARNINGS

 

I have a running spreadsheet on the computer that I update with receipts every time I am home. My tax attorney does my taxes. He told me 35% of my net should be held for taxes and I will have saved too much. That said, I farm as well. New equipment or good used equipment isn't cheap. I have owed at the end of the year. (EX. Last year our gross was 87,000. I showed a net income of $13,000 and received $6500 back).

 

I "try" to set aside 20%, but am still learning myself. This is my first year where it'll be my sole income (was running as an OO on weekends while on active duty) so hopefully I can find a good shyster tax attorney.

 

Where you at?