Estimated Taxes
Should you or shouldn't you?
If you are one of the many self employed individuals that would rather not give the government any of your HARD EARNED money until it is ABSOLUTELY POSITIVELY necessary. Well, I have a tip that may change your mind.
While hording YOUR money may be great in theory, it may not be the wisest choice. Especially if Paying estimated taxes can result in financial outcomes that are beneficial for you and your business. Now I know funds can be limited and wrapped up in expenses, but estimated taxes should be budgeted for.
Here are the three beneficial outcomes that could occur when you pay estimated taxes:Â
1. You can actually get a refund if you paid more estimated taxes than you actually owe.
2. Estimated taxes can be the difference between paying $6,000 on March/April 15th* or only having to pay $900.
3. Owing NO taxes on March 15/April 15* vs Owing Taxes with penalties.
If any of these outcome seems like a great idea for you, feel free to reach out and we can discuss your free consultation.
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