Estimated tax penalty
Varies
Can You Write Off Estimated Tax Penalty?
Short answer: No: the underpayment penalty isn't deductible, and you avoid it by paying 100% of last year's tax (110% over $150,000 AGI).
Pay quarterly by April 15, June 15, September 15, and January 15.
Records to keep: Keep receipts, 1099s or W-2s, a mileage log, and a note of the business purpose. W-2 employees should ask about employer reimbursement.
BW-B23-00055
high risk
Estimated tax penalty
Varies
Remote Workers / Freelancers / Consultants
Other Expenses
Write-Offs by Job
No: the underpayment penalty isn't deductible, and you avoid it by paying 100% of last year's tax (110% over $150,000 AGI).
BizWriteOffs provides educational information only and is not tax, legal, or accounting advice. Deductibility depends on your specific facts and records. Consult a qualified tax professional.
Business justification
No: the underpayment penalty isn't deductible, and you avoid it by paying 100% of last year's tax (110% over $150,000 AGI). Pay quarterly by April 15, June 15, September 15, and January 15.
Category
- Write-Offs by Job
job question
search demand 2026 b23
freelancers
freelancer taxes