Small business owners, self-employed people, and some wage earners should look into whether they should make estimated tax payments this year. Doing so can help them avoid an unexpected tax bill and possibly a penalty when they file next year.
Taxpayers who earn a paycheck usually have their employer withhold tax from their checks. This helps cover taxes the employee owes. On the other hand, some taxpayers earn income not subject to withholding. For small business owners and self-employed people, that usually means making quarterly estimated tax payments.
Here are some details about estimated tax payments:
Source: IRS
Alfredo Gaxiola has worked on numerous IRS problem cases and has successfully settled with the IRS to release liens on houses, bank accounts and wages and, if needed, setting a payment installment plan that is not burdensome for the client. He has conducted appeals before the U.S. Tax Court and obtained favorable resolutions in reducing the tax debt of his clients. Mr. Gaxiola served as Treasurer of Camara de Empresarios Latinos, one of the largest and strongest Hispanic organizations in the city of Houston. He has conducted financial and accounting seminars for the Houston Small Business Development Corporation, as well.
Certified Public Accountant in Houston, Alfredo Gaxiola CPA in Houston, Certified QuickBooks Proadvisor in Houston, QuickBooks Set Up and Training in Houston, Business Tax Return in Houston, Personal Tax Returns in Houston, Quarterly & Monthly Filings in Houston, Financial Statement Preparation in Houston, Consulting Services in Houston, Payroll Preparation in Houston, Bookkeeping Services in Houston, Bank Financing in Houston, IRS representation in Houston
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