Friday, June 6, 2014

Tips for Keeping on Top of Quarterly Payments


When you’re earning business income throughout the year, chances are you’re going to have to pay estimated quarterly income tax payments. Whether you’re a sole proprietorship, LLC or corporation, these quarterly payments are due four times each year and the penalties for failing to remit them can be harsh.

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Keep your tax adviser involved in your income fluctuations so he or she can help you properly report and remit your taxes due. The typical due dates—which are not based on equal quarters—are:
 Period Due Date
 January 1 through March 31 April 15
 April 1 through May 31 June 15
 June 1 through August 31 September 15
 September 1 through December 1 January 15 (the following year)
If the due date falls on a weekend or holiday, the due date is the next business day. Visit IRS.govand search for Estimated Quarterly Tax Payments for more information about your type of business and the taxes due. In add

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