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Brace yourselves for another tax law change!

This change will apply to any taxpayer who owes taxes when filing their tax return. That's a lot of people who need to know about this recent change!There is a new estimated tax penalty of 8%, which was only 3% in the past! Long story short, you're going to need to make those estimated tax payments and not wait to pay until when you file in April!

We untangle this change, due to hit in Q4 2023, and its potential impact on entrepreneurs, contract workers, and those with rental or royalty incomes. We explain the penalty calculation using examples for a clearer understanding.

Circling the dates on your calendars yet? Knowing your due dates is half the battle won, isn't it? And if you're a new business owner or planning to become one, this one's for you! We explain various methods to estimate your taxes and avoid this penalty. 

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