If you owe taxes with your Federal or State Income Tax Return, you can submit payment with the return or manually pay them later. Let’s look at the easiest ways to pay your income taxes. The easiest way to pay estimated taxes is to submit them online. Submitting Federal Income Tax Payment Use the IRS…
As a self-employed individual, you will be responsible for calculating and paying Self-Employment Tax, Federal Income Tax, and State Income Tax. Let’s explore. What is Self-Employment Tax? Self-Employment Tax is Social Security and Medicare taxes on the net income of self-employed people. When you are employed by a company, you pay half of these taxes…
Be sure to tip your servers, not the IRS. Tax Planning is less about saving taxes this year than saving taxes over your LIFETIME.
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