Estimated tax payments are a great way to pre-pay your tax balance due, without incurring penalties. But we understand the process can be a little intimidating if you aren’t familiar with how it works. That’s where we come in! We can schedule a meeting at your convenience to review your business finances and discuss your 2015 tax year. From there, we can work together to budget for the tax that will be due. We can also help estimate what will be owed at year end so there are no surprises (BOO!) and you will be prepared.
If you are self-employed, with no W-2 withholding this applies to you. Since you will likely have tax due at the end of the year you might want to consider making estimated tax payments. If not this year, consider this advice as you head into 2016 and look for ways to make payments throughout the year to avoid a big balance due April 15.
Again, there are no penalties associated with the payments. And in addition to reducing the balance due at tax filing, this method can also make it easier to budget with smaller payment amounts. If you would like to learn how this system might be beneficial to you, give us a call TODAY at (913) 888-9100.
We wish you all a safe and FUN Halloween weekend ahead!
Richard Adams is a graduate of Benedictine College in Atchison, Kansas, with dual majors in Accounting and Business Administration. He is also a graduate of Wentworth Military Academy in Lexington, Missouri.