July 16, 2020

Tax Day is over and maybe you filed an extension to file your taxes. However, an extension to file your taxes doesn't mean it is an extension to pay your taxes. 

If you’re going to file an extension, you need to know what to look out for so you can avoid unnecessary pen...

July 14, 2020

What would you do if you owe the IRS a lot of money? You would obviously start panicking and ask yourself, “How did this ever happen to me?!” There is a possibility that your business made a profit this year and you forgot to pay quarterly taxes. Which means you now ne...

July 10, 2020

If you own a business and your business is profitable, you need to pay quarterly taxes each quarter to avoid underpayment penalties.

July 1, 2020

On Monday, The Internal Revenue Service said that they won’t further delay the tax filing and payment deadline past July 15th. Previously the tax filing & payment deadline that was originally due by April 15 was extended for three months which gave taxpayers more time...

Business owners or self-employed individuals (freelancers, independent contractors) are required to make quarterly payments based on their net earnings, especially if they have a balance above $1000. Unfortunately, most business owners often neglect the importance of m...

June 24, 2020

When it comes to tax season, it isn't uncommon that business owners (who file their taxes) tend to wait till the last minute to submit their tax returns. They may end up missing deductions resulting in overpaying taxes, and no one wants to overpay on anything. These mi...

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