2021 Tax Dates: Sole Proprietor vs Independent Contractor

If you are a self-employed individual (aka freelancer 😎) either work as a sole proprietor, partner or have an S corporation, IRS requires you to pay estimated taxes quarterly. So there are more dates than April 15 (Tax filing deadline) to remember.

Here are the dates for 2021 estimated taxes for freelancers.

• April 15, 2021: Payment for Q1 (January 1 - March 31)
• June 15, 2021: Payment for Q2 (April 1 - May 31)
• September 15, 2021: Payment for Q3 (June 1 - August 31)
• January 18, 2022: Payment for Q4 (September 1 - December 31)

If the 15th falls on a weekend or a holiday, the due date is the next weekday. Notice that the Q4 payment deadline for your 2021 taxes is January 18, 2022, not January 15. You can start making your payments as of the first day of each month. During tax season, it is important to keep track of your accounting for independent contractors.

Taxes for freelancers are easier with our tool. Whether you are a sole proprietor vs. independent contractor, you can use Lunafi to track your 1099 income and business expenses throughout the year and be ready for your quarterly tax payment by seeing an accurate estimate of your self-employment and federal income taxes.

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