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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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.
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.
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.
How often do you pay business taxes?
) 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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