pspanIf you’ve always been an employee and are just starting out on your own, you’ve probably started to hear more about this “quarterly taxes” thing. And with good reason and it’s something you need to take seriously for sure./span/ppspanHere are a few reasons why you may need to make estimated quarterly tax payments:/span/pullipspanYour employer doesn’t withhold taxes and you incurred a tax liability from the prior year./span/p/lilipspan/spanspanIf you expect to have to pay more than five hundred dollars at tax time and you are filing as a corporation./span/p/lilipspan/spanspanIf you owed taxes more taxes from the previous tax year/span/p/lilipspanIf you file as a Partnership, an S-Corp, or as a sole Proprietor, and you project to owe more than a thousand dollars in taxes at the end of the year./span/p/li/ulpspanspan /span/span/ppspanTo file quarterly taxes, you’ll need to use /spana href=https://www.irs.gov/pub/irs-pdf/f1040es.pdfspanform 1040-ES/span/aspan. The dates for filing and their related quarters are:/span/pullipspanJan. 1/spanspan /spanspan– March 31: Due April 15/span/p/lilipspanApril 1 – May 31: Due June 16/span/p/lilipspanJune 1 – August 31: Due September 15/span/p/lilipspanSept. 1 – Dec. 31: Due January 15 the following year/span/p/li/ul
Category:
Tax Tips
Posted on
October 30, 2014