Once you have a rough estimate about your total income from side business, it's time to calculate estimate taxes. Yes ,you will pay FICA taxes along with federa...
Hi,
Here is some more info. about reducing or eliminating under payment penalty. You can use annualize method to report total income and total withholding/payme...
First of all congratulations on starting your business.
There are pros and cons for both partnership and LLC. The main drawback about partnership is liability. ...
Since your LLC is a single member LLC, you do not take a paycheck for yourself unless LLC is elected to be treated as Corporation. If you write a check to yours...
1. Yes, your understanding is correct.
2. You can use IRS worksheet or TurboTax tax calculator to estimated your estimated taxes. Remember to divide yearly esti...
