Gig Worker Quarterly Tax Calculator
Quarterly Payment Calculator
Estimate your quarterly IRS payments
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Formula
Quarterly Payment = (SE Tax + Income Tax) ÷ 4
Frequently Asked Questions
When are quarterly tax payments due?
2024 quarterly estimated tax due dates: Q1 April 15, Q2 June 17, Q3 September 16, Q4 January 15, 2025. Missing a payment doesn't mean immediate penalties — the IRS assesses interest on underpaid amounts at year-end filing.
What is self-employment tax?
Self-employment tax is 15.3%: 12.4% for Social Security (on first $168,600 of net earnings in 2024) and 2.9% for Medicare (on all net earnings). It's calculated on 92.35% of net self-employment income. You can deduct half of SE tax from your adjusted gross income.
How much should gig workers set aside for taxes?
A safe rule: set aside 25–30% of every payment received. This covers SE tax (~15%) + income tax (~10–15% for most gig workers). Open a separate savings account and transfer 25–30% immediately when paid. This prevents spending money you owe the IRS.
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