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Old 09-05-2008, 05:25 AM   #1
Default How often do you pay business taxes?  
desertmom
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How often do you pay your taxes for your business? Monthly, quarterly, semi-annually or annually. Do you use the same schedule for both state and federal taxes?
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Old 09-05-2008, 05:34 AM   #2
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When we do our side boy business (ya that doesn't sound weird ) we do it monthly. If we end up expanding, which we might, I think we'll aim for quarterly. I know the benefits of not paying the IRS in advance and you're just loaning them your money interest free but I worry about not being disciplined enough to keep that money on hand and not having the money when tax time comes.
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Old 09-05-2008, 10:19 AM   #3
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We are scheduled to only pay annually but this has been a great year for DH's business and he had to hire 2 employees, I've been depositing money every other month or so.
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Old 09-05-2008, 01:30 PM   #4
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We've always paid quarterly.
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Old 09-05-2008, 01:35 PM   #5
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We pay yearly. We're a LLC which helps us a lot with taxes (we're taxed on what we pay ourselves instead of the total profit made)
So, once a year we pay the LLC fee (the same every year, so we save for it) and whatever the accountant says we owe after pay taxes.
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