I started a LLC in April 07, and its going great I know I need to get an accountant at some point but I would like to learn the ropes before hiring a accounting service. My question is now I need to file my 1040es and pay my quarterly estimated tax liabilities. How do I do this? Thank you in advance for your answers.
2007-08-27 12:35:12 · 1 answers · asked by triminman 5 in Business & Finance ➔ Taxes ➔ United States
Great news to hear of a thriving business. The third quarterly estimate is due by September 15th, but for this year it is due on the 17th. Figure out what your total taxable is so far this year, then annualize it. (Just add what you think you will make for the remainder of the year). Calculate the tax on that figure. Seeing that you probably didn't do a second quarter estimate, it would be wise to put in 50% of the calculated result.
You will need to fill out the third quarter estimate form
1040-ES and mail in your check. You can go to irs.gov to obtain that form.
Good luck to you and much success in your endeavors.
2007-08-27 13:18:12 · answer #1 · answered by IRENE THE BOOKIE 3 · 0⤊ 0⤋