Estimated Tax Payments

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Why Make Estimated Tax Payments?

By | October 28th, 2015|Categories: Small Business Tax and Accounting|Tags: , |

Why make estimated tax payments? Because it helps the self-employed person avoid falling hopelessly behind on their tax liabilities.

Glossary: Estimated Tax Payments

By | August 17th, 2015|Categories: Potpourri of Tax Topics|Tags: , , |

Why make estimated tax payments?

Why Make Estimated Tax Payments, Part 2

By | May 19th, 2015|Categories: Small Business Tax and Accounting|Tags: , , |

This is part 2 of an explanation of estimated tax payments. In Part 1, I detailed the math behind the tax formula. In Part 2, I’ll explain why a taxpayer might want to make estimated tax payments. Here’s the reason: if you’re fully self-employed, you don’t draw a paycheck in the traditional sense. Since you don’t [...]

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Why Make Estimated Tax Payments, Part 1

By | May 11th, 2015|Categories: Small Business Tax and Accounting|Tags: , |

Why make estimated tax payments? An understanding of how the tax calculation works is a good starting point.

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How to Allocate the Deduction for Federal Estimated Tax Payments on Your Iowa Tax Return

By | May 22nd, 2013|Categories: State Taxes|Tags: , |

Iowa allows a deduction for federal income taxes paid. This includes taxes withheld from your paycheck, as well as any estimated tax payments you made during the year and any additional federal taxes you might have paid when you filed your federal return for the prior year. This deduction is simple if your only federal tax [...]