Quote:
Originally Posted by Barry-xlovecam
In the USA the IRS accesses you penalties if you don't pay 1040-ES (estimates) quarterly.
See Form 1040-ES Individual
General Rule
If your AGI income is over $9,225 you need to pay estimated quarterly taxes to the IRS.
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See I didn't think I would need to pay quarterly since I pay myself every 2 weeks. All taxes are deducted from my paycheck and paid to appropriate places. IF I were paying myself as much as I actually made then when the quarter came I wouldn't owe any money so nothing to pay quarterly? My accountant never even suggested for me to pay anything quarterly, just set me up to draw a paycheck and have taxes deducted that way.
I need a more aggressive CPA I feel like.