First Estimated Tax For 2018 Due in One Week - April 17th

 You've filed your tax return for last year, but you're not done. April 17th is also the date when your first quarterly estimated tax payment is due for this year.

   If you are self-employed, have significant investments, rental or royalty income, are a freelancer or have a business ownership interest you may need to file estimated taxes quarterly so that you don't owe when you file.

 In general, under the U.S. tax system, you pay in advance - when you earn, not when you file.  Estimated tax payments include not only income tax but also any self-employment and other taxes that you may owe and be reporting on your personal return.

 Non-resident as well as many corporate and other entity taxes are also due on an estimated basis.

 If estimated payments are needed and not paid, you may be subject to penalties and interest.  For the IRS view on estimated taxes, see The Basics of Estimated Taxes for Individuals

 Your business or personal CPA can help you determine what you need to do regarding estimated tax payments.

 For more information on taxes and other business tips, see: https://YourSmallBusinessCPA.com/