Tax Preparation Expert Josh Adams of North Chesterfield, VA, Talks about How to Handle Quarterly Taxes if You're Self-Employed for HelloNation
NORTH CHESTERFIELD, Va., Sept. 30, 2026 /PRNewswire/ -- Why do many people who are self-employed struggle to understand quarterly taxes when they first start a business? According to a HelloNation article, the answer is that the system feels unfamiliar until you learn how estimated taxes work at both the federal level and under Virginia income tax rules. The article explains that people in North Chesterfield and Richmond, VA, can build a steady routine by matching tax payments to their income throughout the year.
The HelloNation article notes that quarterly taxes often cause confusion because self-employed income is not subject to withholding. When someone receives payment from a client, no federal or Virginia income tax has been collected. This makes estimated taxes a personal responsibility. The article reports that many new business owners expect to resolve everything in April, but both the IRS and Virginia require tax payments four times a year if the expected balance reaches a certain amount.
The system becomes easier once you understand the rhythm. The article outlines the basic approach of estimating your yearly income, calculating your tax owed, and dividing the amount into four payments. Some North Chesterfield workers adjust their estimated taxes each quarter if their income changes. The article highlights that the IRS offers Form 1040-ES, which includes worksheets to help people estimate their taxes. Virginia offers Form 760 ES, which provides similar support for Virginia income tax requirements.
The HelloNation article explains that many self-employed individuals prefer making online tax payments. They use IRS Direct Pay for federal estimated taxes and the Virginia Department of Taxation for state payments. These systems provide immediate confirmations and help reduce stress. The article adds that mailing checks is still allowed, though it takes longer. What matters is meeting deadlines and maintaining consistent tax payments.
The article clarifies a common question in Richmond, VA, and North Chesterfield. People often ask whether they must pay estimated taxes in Virginia. The rule is simple. If you expect to owe more than a small minimum amount of Virginia income tax after withholding and credits, estimated payments are required. The same principle applies at the federal level. The article reports that planning ahead makes the process more manageable, especially for self-employed people.
Most North Chesterfield business owners find a steady system for quarterly taxes after their first year. They set aside money from each payment, use spreadsheets, or rely on simple business tools to track income, taxes, and deadlines.
The article notes that quarterly taxes are due on fixed deadlines that typically fall in April, June, September, and January. If a person's income changes during the year, they can update estimated taxes at any time. The IRS safe harbor rules also help protect people from penalties if they meet certain requirements based on the previous year's return. Virginia income tax rules follow a similar pattern. The article explains that understanding these guidelines helps make the year more predictable and reduces financial stress.
The HelloNation article also addresses the growing number of people in Richmond, VA, and North Chesterfield who run side businesses or part-time independent work. Many wonder whether they owe estimated taxes on this income. According to the article, the answer depends on their total earnings and expected tax liability. Even small amounts of self-employment income may require quarterly tax payments if the expected balance exceeds the threshold. The article suggests that a brief conversation with a tax professional can provide clarity, though the basic principles are clear.
Paying quarterly taxes keeps self-employed people current and avoids big bills or penalties in April. Staying aware of income, rules, and available forms, such as the 1040-ES, helps establish a predictable routine. Consistency with payments builds confidence and stability.
How to Handle Quarterly Taxes if You're Self-Employed features insights from Josh Adams, Tax Preparation Expert of North Chesterfield, VA, in HelloNation.
About HelloNation
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HelloNation Staff
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