{"id":3313,"date":"2018-03-14T12:20:16","date_gmt":"2018-03-14T17:20:16","guid":{"rendered":"http:\/\/sherylschuff.com\/blog\/?p=3313"},"modified":"2018-08-01T13:56:27","modified_gmt":"2018-08-01T18:56:27","slug":"how-to-pay-estimated-taxes-tax-tips-for-business-owners-who-want-to-avoid-trouble-with-the-irs","status":"publish","type":"post","link":"https:\/\/sherylschuff.com\/blog\/estimated-taxes\/how-to-pay-estimated-taxes-tax-tips-for-business-owners-who-want-to-avoid-trouble-with-the-irs\/","title":{"rendered":"How to Pay Estimated Taxes: Tax Tips For Business Owners Who Want to Avoid Trouble With the IRS"},"content":{"rendered":"<p><iframe src=\"https:\/\/www.youtube.com\/embed\/X6hGQZM6-0w?rel=0\" width=\"560\" height=\"315\" frameborder=\"0\" align=\"right\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; font-size: 14pt;\">Here\u2019s a list of 10 important facts about how to pay estimated taxes and avoid estimated tax penalties. The first five are explained in the video<\/span><\/p>\n<p><script src=\"https:\/\/apis.google.com\/js\/platform.js\"><\/script><\/p>\n<div class=\"g-ytsubscribe\" data-channelid=\"UCWqkcvkNEE_YGA2O4if0RwQ\" data-layout=\"full\" data-count=\"hidden\"><\/div>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; font-size: 12pt;\">Estimated taxes aren\u2019t really taxes at all<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; font-size: 12pt;\">You might have to make estimated tax payments if you have any taxable income besides W-2 wages<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; font-size: 12pt;\">You\u2019re generally required to make estimated tax payments if you owe $1000 or more when you file your 1040<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; font-size: 12pt;\">Estimated tax payments are due four times per year, but they\u2019re not paid \u201cquarterly\u201d<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; font-size: 12pt;\">The easiest way to make estimated tax payments is to use the IRS Direct Pay system<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; font-size: 12pt;\">There are several specific exemptions from the requirement to pay if you owe $1000<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; font-size: 12pt;\">Sometimes it makes sense to make estimated tax payments even when they\u2019re not required<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; font-size: 12pt;\">Dividing the amount you owed last year by 4 and using that result to make payments this year is not always the best approach<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; font-size: 12pt;\">The IRS has a detailed worksheet which shows you exactly how to calculate the amount of your payment<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400; font-family: arial, helvetica, sans-serif; font-size: 12pt;\">When you\u2019re self-employed, it\u2019s possible to have no income subject to Federal income tax but still owe money when you file your 1040 because of the SE tax and be required to make estimated tax payments<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<\/p>\n<p>Here\u2019s a list of 10 important facts about how to pay estimated taxes and avoid estimated tax penalties. The first five are explained in the video<\/p>\n<\/p>\n<p>&nbsp;<\/p>\n<p> Estimated taxes aren\u2019t really taxes at all You might have to make estimated tax payments if you have any taxable income besides W-2 wages You\u2019re generally [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","tve_updated_post":"","tve_custom_css":"","tve_user_custom_css":"","tve_globals":{},"tcb2_ready":0,"tcb_editor_enabled":0,"tve_landing_page":"","_tve_header":"","_tve_footer":""},"categories":[297],"tags":[339,331,86,332,336,138],"class_list":["post-3313","post","type-post","status-publish","format-standard","hentry","category-estimated-taxes","tag-estimated-payments","tag-estimated-taxes","tag-irs","tag-quarterly-taxes","tag-tax-penalties","tag-tax-tips","odd"],"_links":{"self":[{"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/posts\/3313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/comments?post=3313"}],"version-history":[{"count":16,"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/posts\/3313\/revisions"}],"predecessor-version":[{"id":3464,"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/posts\/3313\/revisions\/3464"}],"wp:attachment":[{"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/media?parent=3313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/categories?post=3313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sherylschuff.com\/blog\/wp-json\/wp\/v2\/tags?post=3313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}