06/21/2026
Self-employed or have side income? Don’t ignore estimated taxes.
If you expect to owe tax beyond what’s covered by withholding, the IRS may require quarterly estimated payments. This often applies to freelancers, contractors, gig workers, landlords, and small business owners.
A practical way to plan: review year‑to‑date income and expenses, update your expected profit, and set aside a percentage of each payment you receive. Many people use a separate savings account so the money is ready when a due date comes.
Practical takeaway: Do a quick quarterly check—income, deductible expenses, and what you’ve already paid in withholding/estimates—then adjust your next payment so you’re not surprised at tax time.