Sign up to save your podcasts
Or
Share Self-Employed Estimated Tax Pitfalls
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Self-Employed Estimated Tax Pitfalls
Episode Summary:
Attorney Lance Drury explains the common mistakes self-employed individuals make with estimated taxes—and how to avoid them. From commission-based income to quarterly tax rules, he breaks down how late or missed payments can spiral into IRS debt and penalties. He also shares practical steps to stay compliant, protect income, and avoid long-term tax trouble.
Key Timestamps:
00:00: Understanding estimated tax requirements for self-employed individuals
01:30: How commission-based earners fall behind on taxes
03:00: Missed payments, bad timing, and lack of planning
05:00: How IRS calculates late fees and interest
06:30: Using a separate account for quarterly taxes
08:00: Realtors and other commission-based workers
09:30: What to do if you’ve missed or underpaid
11:00: Lance’s three-step plan to protect clients
13:30: Where to start if you’re already behind
About the Show:
Resilience and Resolve features Lance Drury helps individuals and small business owners fight back when the IRS comes calling. With over 20 years of experience, Attorney Lance Drury shares expert strategies to protect assets, prevent tax problems, and build financial peace of mind.
View all episodes
By resilienceandresolveEpisode Summary:
Attorney Lance Drury explains the common mistakes self-employed individuals make with estimated taxes—and how to avoid them. From commission-based income to quarterly tax rules, he breaks down how late or missed payments can spiral into IRS debt and penalties. He also shares practical steps to stay compliant, protect income, and avoid long-term tax trouble.
Key Timestamps:
00:00: Understanding estimated tax requirements for self-employed individuals
01:30: How commission-based earners fall behind on taxes
03:00: Missed payments, bad timing, and lack of planning
05:00: How IRS calculates late fees and interest
06:30: Using a separate account for quarterly taxes
08:00: Realtors and other commission-based workers
09:30: What to do if you’ve missed or underpaid
11:00: Lance’s three-step plan to protect clients
13:30: Where to start if you’re already behind
About the Show:
Resilience and Resolve features Lance Drury helps individuals and small business owners fight back when the IRS comes calling. With over 20 years of experience, Attorney Lance Drury shares expert strategies to protect assets, prevent tax problems, and build financial peace of mind.