Graphic designers working as freelancers or running a business pay quarterly estimated taxes to avoid penalties and large payments at the end of the year. Here are the quarterly estimated tax due dates for 2012.
Estimated quarterly taxes are taxes paid throughout the year rather than all at once in April of the following year. These estimated taxes are paid by people working for themselves who do not have tax withheld automatically from the company they are working for. There are two primary benefits to paying quarterly taxes.