Self-Employed? Don't Miss Your Q3 Estimated Tax Deadline

If you're self-employed, a freelancer, or a small business owner — listen up! Your Q2 estimated tax payment was due June 16th. If you haven't paid it yet, don't panic — but do act quickly to minimize any potential penalties. And if you're not sure what we're talking about, keep reading. This is important.

What Are Estimated Taxes?

When you work a regular job, your employer withholds taxes from every paycheck and sends them to the IRS on your behalf. But when you're self-employed, nobody does that for you. You're responsible for paying your own taxes — and the IRS wants them four times a year, not just once in April. These quarterly payments are called estimated taxes, and missing them can result in underpayment penalties even if you pay everything you owe by April 15th.

The 2026 Estimated Tax Schedule

Q1: April 15, 2026 ✅

Q2: June 16, 2026 ✅

Q3: September 15, 2026

Q4: January 15, 2027

How Much Should You Pay?

A common rule of thumb: set aside 25-30% of every dollar you earn if you're self-employed. For your quarterly payment, you can either pay 25% of what you expect to owe for the full year, or base it on last year's tax bill (this is called the "safe harbor" method and protects you from penalties).

How to Pay

The easiest way is through the IRS Direct Pay portal at irs.gov/payments. It's free, fast, and you'll get an immediate confirmation. California residents also need to make a separate payment to the Franchise Tax Board at ftb.ca.gov.

Not Sure What You Owe?

That's exactly what we're here for. At MeiDay Accounting, we help self-employed individuals and small business owners stay on top of their quarterly obligations so there are no nasty surprises come tax season.

Q3 is coming up on September 15th — let's get you prepared. Reach out anytime for a free consultation.