Estimated Tax Payments: Your Complete Guide

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If you are self-employed, congratulations, you now have to make tax payments every quarter of the year or Uncle Sam will pay you a visit to drop off interest and penalties. I myself have to pay quarterly tax payments and here at LYFE accounting, we help business owners pay theirs. So don’t worry. In this video, I'll break down Quarterly Estimated Payments in an easy to understand way so you pay on time and pay the right amount. Today we’re going over the following:

What are quarterly tax payments? (01:12)
Who has to pay quarterly tax payments? (01:30)
When to pay quarterly tax payments (02:35)
How to calculate your quarterly tax payments (03:00)
How to pay quarterly tax payments (03:45)
What happens if you don’t pay your quarterly tax payments (04:12)

Note that this is educational information, and for guidance or advice specific to your situation, you should consult with your tax or legal counsel.

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).