Quarterly Estimated Tax for First-Year Freelancers

What new freelancers need to know before the first quarterly deadline.

When taxes are no longer withheld from a paycheck, you generally need to make estimated payments during the year if you expect to owe enough at filing.

The first year is hard because income is irregular and there is no habit yet. Logging every payment and moving tax savings immediately reduces the chance that tax money gets spent as operating cash.

Prior-year safe harbor rules can help, but first-year freelancers should still watch current-year income closely.