@the.finance.engineer: I f*cking QUIT my job working for Jeff Bezos (Amazon 😅) to work for myself, and made this mistake… 3 years ago, I quit my 9-5 job at Amazon to make videos on the internet (start a business). I’ll talk about “why” in another video. For now, let me explain one mistake I made that cost me money that you can avoid when you start your business. When you work a regular job, they automagically take money from your paycheck to pay for taxes. Then once a year, you file a tax return. Easy right? Well, when you’re self-employed, you typically have to pay taxes not once, not twice, not thrice, but 4 f*cking times per year! 🫠 They’re called Quarterly Estimated Tax payments, and these are the due dates: Q1: April 15 Q2: June 15 Q3: September 15 Q4: January 15 (of the following year) If you don’t pay them on time, the IRS is gonna charge you interest. Why? Well, according to the IRS: You have to pay quarterly estimated taxes because the U.S. tax system operates on a "pay-as-you-go" basis. The IRS requires you to pay taxes as you earn or receive income throughout the year, rather than all at once when you file your annual return 😮‍💨 Fortunately, I learned this quickly and didn’t pay too much in interest. There are a few ways to calculate your estimated tax payment: Method 1: The Prior-Year Safe Harbor. If your income is relatively stable, pay 25% of last year's total tax bill each quarter. If your Adjusted Gross Income is over $150,000, you must pay 110% of last year's tax. Method 2: The Annualized Income Method. If your income fluctuates, estimate your current year's earnings, calculate your expected tax, and divide by 4. Get with a tax professional if you need help! ✅ Follow @the.finance.engineer for part 3, and to learn how to be rich AF. #finance #PersonalFinance #taxes #business #investing

Imran | The Finance Engineer

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Thursday 28 May 2026 20:18:35 GMT