Q3 Estimated Taxes: When Are They Due For Self-Employed Individuals

As a self-employed individual, you're responsible for paying your own taxes. This includes estimated taxes, which are payments you make to the IRS throughout the year to cover your expected tax liability. In this article, we'll cover when Q3 estimated taxes are due for self-employed individuals.

Estimated taxes are typically due on the 15th day of the fourth month following the end of the quarter. For Q3, this means that estimated taxes are due on September 15th. However, if the 15th falls on a weekend or holiday, the due date is typically extended to the next business day.

If you're self-employed, you're likely to have a significant amount of income that's not subject to withholding. This means you'll need to make estimated tax payments throughout the year to avoid penalties and interest. Estimated taxes are typically paid quarterly, with payments due on April 15th, June 15th, September 15th, and January 15th.

When calculating your estimated tax payments, you'll need to consider your expected income, deductions, and credits. You can use Form 1040-ES to estimate your taxes and make payments. You can also use online tools and software to help you calculate your estimated taxes.

It's important to note that if you're self-employed, you may also need to make payments towards your self-employment tax. This tax is used to fund Social Security and Medicare, and is typically paid quarterly along with your estimated taxes.

If you're unsure about when your estimated taxes are due or how to calculate them, it's a good idea to consult with a tax professional or accountant. They can help you navigate the process and ensure that you're meeting your tax obligations.

In conclusion, Q3 estimated taxes are due on September 15th for self-employed individuals. It's important to make estimated tax payments throughout the year to avoid penalties and interest. If you're unsure about how to calculate your estimated taxes or need help with the process, consider consulting with a tax professional or accountant.