What software for quarterly estimated tax?

I'm a website designer, and I just set up a sole-proprietorship (dba, licenses, tax id), but absolutely no idea what %26amp; how to pay the required quarterly estimated tax.





Do others just use a software (turbo tax or quickbooks), which you do the bookeeping and it will automaticaly remind you and calculate how much to pay up quarterly?|||You want to send about 30% of income to make sure your covered. You will be subject to 15.3% self employment tax. This amount is social security and medicare - not income tax. When you work for someone else you pay 7.65% out of your check and your employer matches that amount. Now you have to pay the full amount yourself. It is based on your net profit, not gross though. Then you are also subject to regular income tax. So 30% should more than cover both your SE and income tax. If you end up overpaying then you'll get a refund and can adjust accordingly for next year. You can just go onto www.irs.gov under forms and publications, form numbers, print down the 1040ES and send it in with your check. As far as software for bookkeeping, I use quickbooks pro retail with full payroll - my husband and I have a business with 8 employees and I'm the bookkeeper and process all my own payroll and payroll taxes/reporting with it. It's a great program. For my seasonal tax preparer work that I run from my home office I actually do it the old fashioned way by hand. It's a very small business so doing it by hand keeps my skills fresh. You can email if you have any more questions. Good luck!|||There are five ways to pay estimated tax.


- By crediting an overpayment on your 2007 return to your 2008 estimated tax.


- By sending in your payment (check or money order) with a payment voucher from Form 1040-ES.


- By using the Electronic Federal Tax Payment System (EFTPS).


- By electronic funds withdrawal if you are filing Form 1040 or Form 1040A electronically.


- By credit card using a pay-by-phone system or the Internet.





See the link to the source below for details regarding estimated taxes.