1. EachPod

94 \\ Avoid These IRS Penalties: CPA Advice on Estimated Taxes and Form 2210

Author
Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert
Published
Thu 11 Apr 2024
Episode Link
https://smallbusinessfinance.podbean.com/e/94-revealed-the-sneaky-tax-trick-costing-business-owners-big-bucks/

Are you overpaying taxes without even knowing it? In this episode, I reveal a common IRS penalty that costs business owners thousands—and how to avoid it. If you’ve ever been hit with a penalty for not paying enough tax throughout the year, this is for you. I explain how estimated tax payments really work, where to look on your 1040 for penalties, and the simple Form 2210 adjustment that can reduce or even eliminate them using the annualized income method. You’ll also learn why many CPAs miss this step and how to make sure yours is saving you money instead of letting you overpay. Don’t let penalties eat away at your hard-earned revenue—tune in to learn how to keep that cash in your business.


 


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