If you’re a freelancer, content creator, or small business owner, paying estimated taxes isn’t optional—it’s essential. The IRS expects you to pay taxes on income as you earn it, which means quarterly estimated payments are a must if you don’t have taxes withheld through an employer.
Let’s break down what estimated taxes are, who needs to pay them, and when they’re due for 2025.
💡 What Are Estimated Taxes?
Estimated taxes are prepayments of your income tax, self-employment tax, and any other taxes you owe. If you expect to owe $1,000 or more in taxes when you file your return, the IRS wants you to make these payments throughout the year.
This is especially common for:
- 📸 Freelancers & content creators
- 🛩️ Drone business owners
- 🧾 Solopreneurs & side hustlers
- 🧑🎨 Consultants and independent contractors
🧾 Who Needs to Pay Estimated Taxes?
You’re generally required to pay estimated taxes if you:
- Receive income not subject to withholding (self-employment, rental income, dividends, etc.)
- Expect to owe at least $1,000 in tax after subtracting withholdings and credits
- Had a tax liability last year
📆 2025 Estimated Tax Due Dates
Here are the quarterly deadlines for your 2025 estimated tax payments:
🔔 Pro Tip: Set calendar reminders or automate with software like QuickBooks Self-Employed or Wave.
🧮 How to Calculate Your Estimated Taxes
You can estimate your taxes using:
- IRS Form 1040-ES
- Last year’s tax return as a guide
- Online tax calculators or bookkeeping spreadsheets like Taylor’s Toolkit Tax Tracker
You’ll need to estimate:
- Net income (after expenses)
- Self-employment tax (Social Security + Medicare)
- Income tax (based on your bracket)
📝 How to Pay
You can pay your estimated taxes using:
- IRS Direct Pay
- The IRS2Go mobile app
- EFTPS (Electronic Federal Tax Payment System)
- Paper check with Form 1040-ES vouchers
✅ Final Tips to Stay Ahead
- Keep a monthly bookkeeping system to track your earnings.
- Save 25–30% of your income to cover taxes.
- Make use of tax write-offs to reduce your taxable income.
- Use tools like my free Tax Deadline Reminder Template (linked below!).
“Plan Ahead, Stress Less – You’ve Got This!”
📥 Free Resource: Tax Deadline Reminder Template
Stay organized and avoid penalties with my free Google Calendar integration + printable PDF that keeps you on track year-round.
✍️ Final Thoughts
Don’t let tax season sneak up on you! Estimated taxes are manageable when you plan ahead. Set reminders, track your income, and make those quarterly payments—your future self will thank you (and so will the IRS).