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Quarterly Estimated Taxes Due Dates, Calculation, and Late Payment Penalty

Quarterly Estimated Taxes Due Dates, Calculation, and Late Payment Penalty 11

As a small business owner, you have to make estimated tax payments to the Internal Revenue Service throughout the year (about once a quarter). This makes it easier to afford the taxes you owe rather than have a lump-sum balance due at tax time. As a business owner, I will share with you how I … Read moreQuarterly Estimated Taxes Due Dates, Calculation, and Late Payment Penalty

How to Pay Quarterly Estimated Taxes

How to Pay Quarterly Estimated Taxes 14

For all the freelancers, small business owners and self-employed individuals out there, staying on top of when the estimated tax payments are due is important to help you stay within the IRS tax payment guideline and avoid penalty. Making estimated tax payments also helps you avoid financial shortfall when you file your tax returns. How … Read moreHow to Pay Quarterly Estimated Taxes

Your Paycheck: Tax Withholdings and Payroll Deductions Explained

Your Paycheck: Tax Withholdings and Payroll Deductions Explained 17

When you first start a job, it’s exciting. You agree on a salary, and you are thrilled that you will soon be getting paid. If your salary is $40,000 a year and you are paid every two weeks, you might be expecting $1,538.46 each check (i.e., your salary divided by 26 pay periods). Unfortunately, this … Read moreYour Paycheck: Tax Withholdings and Payroll Deductions Explained

How Do Marginal Tax Rate and Effective Tax Rate Work

In this article, I will explain a few basic tax concepts related to our Federal income tax system that includes Tax Brackets, Marginal Tax Rate, and Effective Tax Rate. In the United States, we have a progressive tax system where people who earn more money generally pay more. Tax Brackets There are seven Federal tax … Read moreHow Do Marginal Tax Rate and Effective Tax Rate Work

2019 IRS Tax Tables: Federal Income Tax Brackets and Rates

The following article contains information about the federal income tax rates for 2019. You’ll use these tax tables to help you calculate your 2019 taxes in early 2020. Federal Income Tax Rates (2019) The table below gives you the marginal tax brackets for single, married couples filing jointly, and head of household. Marginal Tax Rate … Read more2019 IRS Tax Tables: Federal Income Tax Brackets and Rates