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| *Loan,banking and credit>>>business tax |
If you have multiple small businesses, for tax purposes Is there a way to "prepay" an amount of tax through |
the year so you wont have to pay a HUGE amount when tax time comes up?? For example, sending a thousand dollars up front before tax so the could take whatever they have to when tax time comes?? The answer depends on the tax entities of the businesses. If the income from the small businesses passes through directly to you, you should either make estimated tax payments during the year or else pay yourself wages and withhold income taxes. If the income does not pass through (i.e. a C-corp), you will need to make estimated tax payments for the company itself during the year. Your situation requires the services of a competent tax professional. I would consult with a CPA. Do NOT ask the IRS for information, as the people on the "help" lines are not properly trained, are wrong an estimated 30-40% of the time, and cannot be held responsible if their answers result in additional fines and penalties! Source(s): www.aicpa.org go to the tax office for annual schedule and pay in bits. its good to pay taxes for national development. |
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