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Free Tax Tool
Estimate your 2026 federal income tax and NJ Gross Income Tax liability, and calculate how much to pay each quarter to avoid underpayment penalties.
Total Box 1 wages from all W-2s
Schedule C net profit, plus general-partner self-employment earnings (Schedule K-1 (Form 1065), box 14, code A, including guaranteed payments). Do NOT include S-corporation K-1 box 1 income - it is not subject to SE tax (enter S-corp W-2 wages in the W-2 field instead).
Short-term gains are taxed at ordinary rates; include them in Other Income.
Interest, dividends (non-qualified), rental income, etc.
W-2 Box 2 + other federal tax withheld
1040-ES vouchers paid this year so far
Per IRC § 6654(d) you avoid an underpayment penalty if you pay the lesser of 90% of this year's tax or 100% of last year's tax (110% if last year's AGI exceeded $150K, or $75K if MFS). Without these inputs we fall back to the 90%-of-current-year target.
| Component | Federal | NJ State |
|---|---|---|
| SE Tax (federal only) | $21,194 | N/A |
| Income Tax | ~$9,795 | ~$5,402 |
| Total Annual Tax | ~$30,990 | ~$5,402 |
| Quarterly Payment (Q1-Q4) | ~$6,973 | ~$1,080 |
Federal estimate assumes the SE deduction and 2026 standard deduction ($32,200 MFJ under OBBBA), the federal QBI deduction, and no credits. NJ estimate assumes the basic personal exemption, with no QBI or standard deduction (NJ non-conformity). Federal quarterly payments due Apr 15, Jun 15, Sep 15, Jan 15. NJ payments are due on the same dates through the NJ Division of Taxation online payment portal. Use the contact form for your personalized quarterly payment schedule.
If you earn income that is not subject to withholding (self-employment income, rental income, capital gains, or large interest and dividend income), you are generally required to pay federal and NJ estimated taxes quarterly.
Federal estimated tax payments (Form 1040-ES) and NJ estimated payments (NJ-1040-ES) are due four times per year:
You avoid the underpayment penalty if you pay at least 100% of your prior year's tax liability (110% if your AGI exceeded $150,000 last year) through withholding and estimated payments. Alternatively, you can pay 90% of your current year's actual liability.
For NJ, the safe harbor is 80% of the current year's tax or 100% of the prior year's tax (110% if your prior-year NJ gross income exceeded $150,000, per N.J.S.A. 54A:9-6(d)(3)).
Self-employed? See if S-Corp election could lower your tax bill.
The S-Corp Savings Calculator compares your sole prop SE taxes against S-Corp payroll taxes, including NJ compliance costs.
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Greg Monaco, CPA replies personally to talk through your situation - filing status, NJ rules, and the moves a calculator can't see. Privacy note: your calculator inputs and results are NOT sent with this form (only your name and email); Greg will ask for the details when he replies. Livingston, NJ; serves all of New Jersey.
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Open toolTax advice disclaimer: This material is for general educational information only and is not legal, tax, or accounting advice for your specific facts. A CPA-client relationship is formed only through a signed engagement letter.