Quarterly Estimated Taxes

Are you an individual or business earning income where taxes are not being withheld? Do you want to avoid penalty interest and ensure compliance with IRS regulations? Our quarterly estimated tax services are here to help you manage your tax obligations efficiently. Whether you are an entrepreneur, freelancer, or investor, understanding and fulfilling your quarterly estimated tax responsibilities is crucial. We offer professional guidance and support to calculate and file your quarterly estimated taxes, ensuring you stay on top of your financial commitments.

Quarterly estimated taxes are advance payments made to the IRS on income not subject to withholding. This includes income from self-employment, dividends, interest, rents, and more. By paying these taxes quarterly, you can avoid penalties and interest charges, making it a vital part of your financial planning.

The Obligations

If you have received income from any of the following sources, it is likely that you should be paying quarterly estimated taxes to the IRS. Additionally, you may owe taxes to state and local jurisdictions where you reside or work:

K-1 Income: This includes income from private equity investments, law firms, oil & gas, real estate, and other business ventures. Any type of K-1 may trigger the need to file quarterly estimated taxes.
1099-MISC Income: This form is for consulting, self-employment, contracting, gig income, or any other type of non-wage income.
1099-K Income: This income comes from certain types of online accounts where you may have made money, such as eBay or Square.
1099-B, 1099-DIV, and 1099-INT: These forms are for significant investments or gains.
Single-Member LLCs: If you are showing net income after expenses in any given quarter, you may need to pay estimated taxes.
S-Corps or Dividends from C-Corps: These may also necessitate quarterly estimated tax payments.
Partnership Income: Income from partnerships is subject to estimated tax payments.
Significant W2 Income: If historically not enough taxes were withheld by the employer/HR/Payroll, you may need to pay quarterly estimated taxes.
Other Income Sources: This includes court settlements, gambling winnings, prize winnings, alternative investments, bitcoin gains, sale of land, and more.

Our Offerings

Meeting the requirements for quarterly estimated taxes can be daunting, but our team is here to simplify the process for you. Our expertise ensures that you comply with all regulations and avoid penalties. Here’s what sets our services apart:

Comprehensive Calculation: We provide accurate calculations of your estimated tax payments based on your income sources and financial situation.
Timely Filing: We ensure that your quarterly estimated taxes are filed on time, preventing any last-minute rush or missed deadlines.
State and Local Tax Compliance: Besides federal taxes, we also handle your state and local tax obligations, ensuring complete compliance.
Personalized Consultation: We offer a free initial phone consultation to understand your specific needs and provide tailored advice.
Experienced Professionals: Our team consists of seasoned tax professionals with extensive experience in managing quarterly estimated taxes for clients across various industries.

Benefits of Paying Quarterly Estimated Taxes

Paying quarterly estimated taxes offers several benefits:

Avoid Penalties: Timely payments help you avoid penalties and interest charges imposed by the IRS.
Better Cash Flow Management: Quarterly payments allow you to manage your cash flow more effectively throughout the year.
Financial Planning: Regular payments help you plan your finances better, avoiding a large tax bill at the end of the year.
Compliance: Ensures compliance with federal, state, and local tax laws.

Our Process

Our quarterly estimated tax services are designed to make the process seamless and stress-free for you. Here’s how we can assist you:

Initial Fac-Finding: We begin with a consultation or quick email dialogue to understand your quarterly estimated tax needs, and discuss how we can best support your business.
Accurate Calculation: Our experts calculate your quarterly estimated taxes accurately, considering all relevant factors.
Timely Reminders: We provide reminders for upcoming payment deadlines, ensuring you never miss a due date.
Filing Assistance: We assist with the filing process, ensuring all forms are correctly filled out and submitted on time.
Ongoing Support: Our team is available year-round to answer any questions and provide ongoing support for your tax needs.