We’ve done it again… Quarterly Tax Estimates
According to the IRS, estimated tax is a method of paying tax on income that is not subject to withholding tax. This can include income from self-employment, business earnings, interest, rent, dividends and other sources. The IRS requires estimated tax to be paid quarterly, typically in 4 equal installments.
Each period has a specific payment due date. If you don’t pay enough tax by the due date of each payment period, you may be charged a penalty even if you’re due a refund when you file your income tax return at the end of the year.
There are also different ways to make the payment, electronic, via mail, and different deadline times as well. To avoid these headaches and fines many small businesses have been heading to local CPAs and accountants in their area, lugging corporate books, files full of receipts, contracts, in an effort to keep up with their quarterly payments.
We looked at this issue and decided to tackle it the same way we’ve tackled personal and business tax filing. We’ve created a smooth and seamless addition to our original product to accommodate quarterly tax estimates. Just like the original software, users just have to answer some simple questions, upload documents and connect with a tax pro on their mobile and/or web app. Once a user has been connected he will have the freedom to chat with his tax pro from the convenience and comfort of anywhere. Upload documents through the app, no more lugging boxes around or emailing back and forth.
To check it out for yourself head over to our site! Click ME.
Martha Rodriguez Clavell JD, Marketeer, Harry Potter Fan, Carb addict.