Quarterly Taxes for Photographers Explained

Quarterly Taxes for Photographers Explained

Many photographers are surprised to learn that taxes aren’t only due once a year. If you run your photography business as a freelancer or independent business owner, the IRS generally expects taxes to be paid throughout the year in quarterly estimated payments. If you're new to photography business taxes, you may also want to read our guide on how photographers file taxes.

Quarterly taxes help cover the income tax and self-employment tax that would normally be withheld from a paycheck. Since photographers typically receive payments directly from clients, they are responsible for setting aside and paying those taxes themselves.

Here’s how quarterly taxes work for photography businesses.

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5 Things You Can Do Now to Prepare for Taxes

It’s November: Busy Season. But also the time when that nagging feeling hits to remind you that tax time is coming again. Instead of letting “inaction breed doubt and fear,” here are some actions you can take today.

  1. Catch up on your bookkeeping.

    Yes, we know this is what you’ve been procrastinating, but now is a good time to start catching up on your bookkeeping. If you are using Quickbooks, make sure all of your checking, savings and credit card accounts are connected. Update any broken connections with your accounts. Then get to work categorizing and reconciling. If you’d prefer a spreadsheet, check out our Easy Expense Tracker for Google Sheets.

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