Estimated Payments Due Date

For estimated tax purposes, the year is divided into four payment periods. Each period has a specific payment due date. If you don't pay enough tax by the due date of each payment period, you may be charged a penalty even if you're due a refund when you file your income tax return at the end of the year.

If you mail your estimated tax payment and the date of the U.S. postmark is on or before the due date, the IRS will generally consider the payment to be on time. If you use IRS Direct Pay, you can make payments up to 8 p.m. Eastern time on the due date. If you use a credit or a debit card, you can make payments up to midnight on the due date.

When to Pay Estimated Tax

Payment Period	Due Date
January 1 – March 31	April 15
April 1 – May 31	June 15
June 1 – August 31	September 15
September 1 – December 31	January 15* of the following year. *See January payment in Chapter 2 of Publication 505, Tax Withholding and Estimated Tax
Fiscal Year Taxpayers	If your tax year doesn't begin on January 1, see the special rules for fiscal year taxpayers in Chapter 2 of Publication 505
Farmers and Fishermen	See Chapter 2 of Publication 505

Note: If the due date for making an estimated tax payment falls on a Saturday, Sunday, or legal holiday, the payment will be on time if you make it on the next day that's not a Saturday, Sunday, or legal holiday.

Source: Internal Revenue Service

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When Should You Use Schedule C ?

Use Schedule C (Form 1040) to report income and deductions resulting from your trade or business. Also use Schedule C to report:

• Wages and expenses you had as a statutory employee
• Income and deductions of certain qualified joint ventures
• Certain income shown on Form 1099-MISC

 Generally, a single-member domestic LLC is not treated as a separate entity for federal income tax purposes. If you are the sole member of a domestic LLC, file Schedule C or C-EZ (or Schedule E or F, if applicable) unless you have elected to treat the domestic LLC as a corporation. 

If you are a self-employed, single member LLC treated as a sole proprietor, qualified joint venture, statutory employee or sole proprietor  taxpayer, you should file Schedule C.

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Your Self-Employed Tax Obligations

If you are an independent contractor, sole proprietor or a member in a partnership or of an LLC, you are considered self-employed and need to understand your self-employed tax obligations. You're subject to the tax if you were self-employed and your net earnings from that source were $400 or more.

As a self-employed individual, generally you are required to file an annual return and pay estimated tax quarterly.

Self-employed individuals generally must pay self-employment tax (SE tax) as well as income tax. SE tax is a Social Security and Medicare tax primarily for individuals who work for themselves. It is similar to the Social Security and Medicare taxes withheld from the pay of most wage earners. 

You must figure your net profit or net loss from your business to determine if you are subject to self-employment tax. You figure self-employment tax (SE tax) yourself using Schedule SE (Form 1040). A self-employed has to pay 15.3% of his or her self-employment income.
The rate consists of two parts: 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance).

Inactive partners are subject to the self-employment tax.

You can deduct the employer-equivalent portion of your self-employment tax in figuring your adjusted gross income. This deduction only affects your income tax. It does not affect either your net earnings from self-employment or your self-employment tax.

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(858)247-1680