FlyFin, the leading AI and CPA-backed tax preparation and filing service, announced the launch of its updated quarterly tax calculator for freelancers. The enhanced tool aims to simplify the process of calculating and filing estimated tax payments.
Many self-employed individuals are unaware of the need to make quarterly IRS estimated tax payments on liabilities over $1,000. Missing these deadlines can bring on a host of penalties with heavy interest rates. This makes timely and accurate payments crucial for freelancers.
The quarterly tax dates for the 2024 tax year fall on April 15, June 17, September 16 and January 15 of the following year. With most freelancers juggling responsibilities, it’s easy for these deadlines to slip through the cracks.
FlyFin’s updated estimated tax calculator is designed to calculate federal estimated tax payments based on the new 2024 tax brackets and deduction limits. Features include:
- Calculating estimated tax payments for 2023 and 2024.
- Tracking quarterly tax dates and receiving timely reminders.
- Paying quarterly taxes online through a seamless interface.
FlyFin’s platform ensures that freelancers understand how to file quarterly taxes and stay compliant with IRS requirements. Freelancers can also use the app’s built-in 1099 tax calculator to identify all possible deductions, potentially lowering their tax bill. Additionally, a team of expert CPAs is available to offer unlimited tax advice, making 1099 tax navigation easier.
“Our mission with this upgrade is to remove the complexities around how to pay quarterly taxes,” said Jaideep Singh, CEO of FlyFin. “With our updated quarterly tax calculator, we provide an intuitive solution that guides users on how to file quarterly taxes and avoid missed payments and penalties for the new tax year.”
By leveraging AI and expert CPA support, FlyFin empowers freelancers to manage their tax obligations and pay estimated taxes online confidently.
Source: FlyFin Launches Upgraded Tax Calculator For Freelancers
