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| Net profit so far (09-27) | +$44,283.12 | From the books, on the cash basis |
|---|---|---|
| ↳ less Standard mileage (474 mi × 72.5¢ / 76.0¢) | −$360.62 | Schedule C line 9, from the mileage log |
| Projected full-year profit | +$59,376.71 | 74% of the year booked, annualized × 1.35 |
| Self-employment tax (15.3% on 92.35%, SS capped) | $8,389.66 | SS $6,799.46 · Medicare $1,590.20 · half-deduct $4,194.83 |
| Standard deduction (Single) | −$16,100.00 | 2026 figure for single |
| Qualified business income deduction (§199A) | −$7,816.38 | 20% of pass-through profit, capped at 20% of taxable income ($7,816.38), the taxable-income cap binds. |
| Federal income tax (brackets) | $3,503.86 | Taxable income $31,265.51 |
| Projected total tax for 2026 | $11,893.52 | Effective 20.0% of projected profit · $8,331.12 earned so far |
| Penalty floor · the lesser of 90% of this year and the safe harbor | $10,704.17 | The least you can pay in estimates and owe no penalty. Enter last year's tax in the profile to see the safe-harbor floor |
| Recommended · pay it in full, no balance due in April | $11,893.52 | $11,893.52 projected |
| Quarter | Due | Pay in full | Penalty floor | Paid | Still owed | |
|---|---|---|---|---|---|---|
| Q1 · 2026-01-01 – 2026-03-31 income through 03-31 annualized: +$46,452.00 → $8,914.20 for the year | 2026-04-15 | $2,228.55 | $2,005.70 | $0.00 | $2,228.55 | overdue |
| Q2 · 2026-04-01 – 2026-05-31 income through 05-31 annualized: +$53,280.00 → $10,488.15 for the year | 2026-06-15 | $3,015.52 | $2,713.97 | $0.00 | $3,015.52 | overdue |
| Q3 · 2026-06-01 – 2026-08-31 income through 08-31 annualized: +$56,200.08 → $11,161.27 for the year | 2026-09-15 | $3,126.88 | $2,814.19 | $0.00 | $3,126.88 | overdue |
| Q4 · 2026-09-01 – 2026-12-31 projected: +$59,376.71 → $11,893.52 for the year | 2027-01-15 | $3,522.57 | $3,170.32 | $0.00 | $3,522.57 | in progress |
Brackets, the standard deduction and the Social Security wage base are the 2026 figures for your filing status. Each quarter's installment is its share of the tax on the income annualized through that quarter, less withholding, less what earlier quarters covered; a loss quarter nets against the rest of the year. State is a flat assumption; multi-state filers need a CPA. The 110% safe-harbor rule applies automatically above $150k of projected income.