Long story short, quit my job for my business. Business has profited ~$100,000 this year. I've set aside 30% for taxes when I file in March/April… But I just found out I should have been making payments throughout the year and not just holding it in my bank account.
The business is single member LLC. I should have a CPA but don't. I just use TurboTax. For this do I straight up just send the IRS a payment before the due date each quarter to reflect the previous quarter? Or is there something specific I need to attach to these payments?
Likely. I'll just send the entire year's expected tax obligations with the Jan due date payment. Thank you!
Just found out about quarterly payments
byu/Capable-Raccoon-6371 intax
Posted by Capable-Raccoon-6371
1 Comment
LLC is a disregarded entity. you don’t necessarily need a CPA for this. EA would work just as well, and it’s often times cheaper.