I am a short-term stock trader operating as a sole proprietorship. Since I am the sole owner and do not have employees, I don’t require a FIN or EIN, so everything is linked to my Social Security Number (SSN). All my payouts from trading activities are directed to a dedicated business bank account.
I am exploring ways to streamline my tax payments throughout the year. Can TurboTax assist with calculating and paying estimated taxes on a quarterly or real-time basis? If so, could you explain how it works and whether it integrates well with trading-related income?
Additionally, if there are other tools or methods you recommend for staying compliant and efficient with tax payments as a trader, I would greatly appreciate your guidance.
