Recent Blog Posts Estimated Taxes

10

Oct

Estimated Taxes, Newsletter, Private Practice, S-Corp, Taxes

How to Pay Estimated Taxes as an S-Corp

https://youtu.be/sGqZ5fJEv94 When you earn money as an employee, you don’t have to make estimated tax payments throughout the year. Or, rather, the estimated tax payments are made automatically by your employer through the withholding process, and these payments that were made on your behalf all year are conveniently reported to you on your W-2. But as an S-Corporation business holder, none of this is automatically done for you. The Process Unfortunately, the annual schedule for estimated tax payments is very strange: Q1 estimated taxes are due by April 15th. So far so good. April and May estimated taxes are due…

What the Heck Do I Do About Estimated Taxes?

What the Heck Do I Do About Estimated Taxes? Quarterly taxes, business taxes, estimated tax payments — are these all the same thing? Federal estimated tax payments are quarterly payments paid on your business or self-employed income. In Washington State, we also have State Business and Occupancy taxes. Do I need to make estimated tax payments? If you fall into both of the following categories you had better pay in estimated taxes: You are expecting to owe at least $1,000 or Your withholding will be less than: the smaller of 90% of your 2019 taxes or 100% of your 2018…

Planning for 2018 Taxes: What You Need to Know

Late last year, Congress passed the Tax Cuts and Jobs Act, also called “tax reform.” The TCJA implemented a number of changes and reforms to our tax code and will have a direct impact on your 2018 filings (to be filed next year). Planning for 2018 is important, so it's important to understand major changes made to the tax code by the TCJA. Here's what you need to know about how those changes will affect your tax situation through this year (and beyond). Tax Brackets Have Changed The tax brackets for all taxpayers have changed. Click through the link for…