How do I estimate my taxes as a freelancer?

How do I estimate my taxes as a freelancer?

To estimate your taxes, you'll need to consider your total income, deductible expenses, and the tax rates applicable to your income bracket.

What expenses can I deduct?

Common deductible expenses include home office costs, supplies, software, and travel expenses related to your work.

How often should I pay estimated taxes?

Freelancers typically pay estimated taxes quarterly, but it depends on your income level and tax situation.

What if I underpay my estimated taxes?

If you underpay, you may face penalties and interest. It's best to keep track of your income and adjust your payments accordingly.