If you own a small business or are self-employed, this one’s for you! Based on your circumstances, it’s likely you need to make estimated tax payments. Generally, these should be paid before the end of the calendar year. Taxes can be complicated, but it’s important to pay enough through withholding and estimated tax payments, otherwise the IRS may charge you a penalty.
First, things first, you need to determine if estimated tax payments apply to you. The link above is a great resource to see who must pay estimated tax. And, of course, we’re here to help, too! Withholdings and payment amounts can be confusing. With a quick review of your circumstances, we can let you know if you need to make a payment yet this year, and if so, for how much.
To determine what you might owe, start with this resource from the IRS. For clients who are required to make estimated tax payments, we can provide quarterly coupons to submit to the IRS with payment. This not only keeps you on track, it spreads the cost across the year.
We still have some appointments available in December, if you’d like to meet for assistance with your estimated tax payment. We can make the process quick and easy for you! Call us anytime at (913) 888-9100. We’re available to start work for you right away.