31 \\ Stop IRS Surprises: How New Business Owners Can Handle Taxes the Right Way
- Author
- Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert
- Published
- Thu 29 Jun 2023
- Episode Link
- https://smallbusinessfinance.podbean.com/e/31-estimated-taxes-what-are-they-and-how-to-pay-them/
New business owners often underestimate how much they need to set aside for taxes. This episode breaks down exactly how to prepare for IRS estimated payments so you’re never caught off guard. Learn the basics of setting aside funds for federal income tax and self-employment tax, how to calculate your tax bracket, why a separate bank account for taxes is critical, and when you actually need to start paying quarterly. We also cover the difference between your first year in business and future years, common pitfalls, and the smartest way to avoid overpaying while still being prepared. If you want to avoid the stress of a big tax bill at year-end and finally feel confident about how much to pay the IRS, this episode is for you.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
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