2025 Tax Planning - Quarterly Estimated Tax Payments
|
Hello Wealth Builders! We're almost through peak tax season while simultaneously planning for 2025 taxes. One thing about business and taxes, it's never ending. Just one continuous cycle. You really have to stay on top of your game if you're going to win at the game of taxes. One of the biggest mistakes I see people make is not paying attention to their numbers throughout the year and making quarterly estimated tax payments. The IRS is a pay as you go system. If you, as an individual, are expected to owe more than $1,000, you're required to make quarterly estimated tax payments. If you own a C Corporation, you're required to make quarterly estimated tax payments if you are expected to owe more than $500. An estimated tax penalty will not apply if either
DUE DATES Quarterly estimated tax payments are due on the following dates:
I'm not going to act like those quarterly estimated tax payments don't add up fast. Making quarterly estimated tax payments will allow you to see just how much you could end up paying long before tax filing season. If you find yourself paying an excessive amount in estimated taxes, it's time to work with a tax strategist that can help you redirect the money from the IRS back to your bank account using legal tax strategies. We are always accepting new tax planning and tax preparation clients. Please feel free to schedule an appointment by clicking the button below:
DEADLINES April 15th -
May 1st -
June 15th -
September 15th -
October 15th -
January 15th of the new year -
We are always accepting new tax planning and tax preparation clients. Please feel free to schedule an appointment by clicking the button below:
Tax filing is a one time event, but successful tax planning happens year 'round. |
Welcome to the KNK Tax & Accounting Blog
Hello Wealth Builders! High earners excel at building their business and bringing in revenue. That's your superpower. The downside is many don't think about taxes until March, or even September/October. If that's you, you could be leaving thousands on the table, or worse, in the IRS treasury. Smart high earners review, adjust, and take action in Q4 to redirect money from the IRS back to their bank accounts. Here's what you need to do: Review your financial reports - Accurate, up-to-date...
Hello Wealth Builders! After three long years of studying and testing, three months completing all the application requirements, I am proud to share that I am officially a Certified Public Accountant (CPA)! What's Changing? Several people asked, "Now that you're a CPA, what's changing?" The truth is nothing much about the quality of my work is changing. Even though I'm a newly licensed CPA, I've been in business and doing the work almost a decade. This coming January will mark 10 years. For...
Hello Wealth Builders! I promise I've heard this hundreds of times, "Just set up an LLC or S Corp and write everything off". The complaint I hear from taxpayers and new clients is, "I just need some more write-offs". Of course you want to accurately report your income and expenses, but that's not always enough. The truth is real tax strategy isn't about write-offs. That's the bare minimum. Real tax strategy is about wealth building. Wealthy people don't lower their taxes by spending...