Fintech
FlyFin launches the updated tax calculator for freelancers
FlyFin, the leading AI and CPA-backed tax preparation and filing service, announced the launch of its updated quarterly tax calculator for freelancers. The improved tool aims to simplify the process of calculating and submitting estimated tax payments.
Many self-employed workers are unaware of the need to make quarterly estimated tax payments from the IRS on liabilities over $1,000. Failure to meet these deadlines can result in a variety of penalties with high 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. Since most freelancers juggle responsibilities, it’s easy for these deadlines to get out of hand.
FlyFin’s updated estimated tax calculator is designed to calculate your estimated federal tax payments based on the new 2024 tax brackets and deduction limits. Features include:
- Calculation of estimated tax payments for 2023 and 2024.
- Track quarterly tax dates and receive timely reminders.
- Pay your quarterly taxes online through a simple interface.
The FlyFin platform ensures that freelancers understand how to file quarterly taxes and remain compliant with IRS requirements. Freelancers can also use the app’s built-in 1099 tax calculator to identify all possible deductions, potentially reducing their tax bill. Additionally, a team of expert accountants is available to offer unlimited tax advice, making 1099 tax navigation easier.
“Our mission with this update is to eliminate the complexities of paying 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.”
Leveraging artificial intelligence and expert CPA support, FlyFin allows freelancers to manage their tax obligations and pay estimated taxes online with confidence.