Estimated Tax Payment for Q3
Yoseph Shomer, CPA
CPA for all your business tax needs | Professional. Patient. Personal.
Now is the time to consider the Estimated tax payments due 9/16/2024.
This means that the taxpayer can estimate their tax liability for the current tax year, 2024, and pay 25% of the tax liability with the quarterly tax payment.
The way to estimate the tax liability is for the business owner to look at their books and accounting records to see how much income they expect to earn from their business for 2024.
What’s great about this is that it pushes the taxpayer to
? Bring their books up to date to have a complete picture of their financial situation
? Analyze their tax situation and review available tax-saving strategies
? Reach out to their tax advisor to employ tax strategies in a timely fashion
This is advantageous as certain tax savings opportunities could be implemented throughout the year that may not be utilized once the tax year ends.
Have a question about this or another tax-related matter? Feel free to reach out!
#shomercpa #tax
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