For all my self-employed clients and friends:
Pay your taxes then ask yourself which is worse: paying taxes or working in a soul sucking/flesh eating job you detest? Personally, I prefer paying quarterly taxes!
Estimated taxes are due June 15 (for income earned between 4/1-5/31). Find out more about estimated taxes on the IRS website; they do a good job of explaining how to calculate and when to pay your taxes.
Publication 505 includes:
- Who Does and Does Not Have To Pay Estimated Tax
- How To Figure Estimated Tax w/Worksheet
- When To Pay
- How To Pay
- How to Get Credit for an Overpayment
If you need help getting your QuickBooks in order, so you can pay your taxes, I recommend calling Janeen Saffle. Her rates are very reasonable and she has a lot of experience and patience.
