Quarterly Taxes Explained (for Side Hustlers & Freelancers)
If you’re earning income outside of a regular paycheck—whether from freelancing, gig work, or a side hustle—you’re responsible for paying your own taxes. That means quarterly estimated taxes are likely on your to-do list.
Here’s what you need to know to stay compliant and avoid penalties.
💡 What Are Quarterly Taxes?
Quarterly taxes are estimated tax payments you make to the IRS four times a year. They’re required if you expect to owe at least $1,000 in taxes for the year and you don’t have enough withheld from other income (like a day job).
📅 When Are They Due?
The IRS has four due dates for quarterly estimated payments:
April 15 – for income earned Jan 1–Mar 31
June 15 – for income earned Apr 1–May 31
Sept 15 – for income earned Jun 1–Aug 31
Jan 15 (of the next year) – for income earned Sept 1–Dec 31
If a due date falls on a weekend or holiday, it’s pushed to the next business day.
🧾 How Do You Calculate What to Pay?
Use Form 1040-ES or work with a tax professional to estimate your:
Net income from self-employment or side gigs
Self-employment tax (Social Security + Medicare)
Income tax based on your total earnings and deductions
A common rule: set aside 25% to 30% of your freelance or side hustle income for taxes.
💳 How Do You Pay?
You can pay online through the IRS Direct Pay, by mail, or through the IRS2Go mobile app.
👀 Why It Matters
Failing to pay quarterly taxes—or underpaying—can result in penalties and interest. But when done right, quarterly payments can keep your cash flow manageable and your tax season stress-free.
Need Help Estimating or Paying Your Quarterly Taxes?
At SuperNOVa Tax Solutions, we specialize in helping freelancers and side hustlers manage their tax obligations with ease. We’ll calculate what you owe, set reminders, and even help you maximize your deductions.