April 11, 2023

31-Should I be Paying Quarterly Estimated Taxes?

17 minutes

There are good surprises…and bad ones.

Bad ones can happen when you haven’t been on top of your quarterly estimated tax payments.

So today that’s what I’m talking about, and how you can prevent a bad surprise. I’ll explain:

What exactly are estimated payments,
When quarterly estimated payments are actually due (take notes, ‘cause they are not exactly quarterly),
Who this applies to and how to figure out how much money to set aside,
Ways you might get “into trouble”, and finally
How to do a “gut check” to assess your actual tax rate (and potential tax bill!)

What I want for you to take away from this episode: make sure you’re aware of how much you need to be paying for estimated quarterly taxes.

Related episode: Check out episode 21 if you want to learn about how you might be able to save money by becoming an S-corp.

If you don’t know - ask for help.

And, until next time, may your week be filled with love and profit!

Connect with Erica:

...more

By Erica Goode

5959 ratings

April 11, 2023

17 minutes

There are good surprises…and bad ones.

Bad ones can happen when you haven’t been on top of your quarterly estimated tax payments.

So today that’s what I’m talking about, and how you can prevent a bad surprise. I’ll explain:

What exactly are estimated payments,
When quarterly estimated payments are actually due (take notes, ‘cause they are not exactly quarterly),
Who this applies to and how to figure out how much money to set aside,
Ways you might get “into trouble”, and finally
How to do a “gut check” to assess your actual tax rate (and potential tax bill!)