estimated tax payments

Best Way to File Taxes for the Self Employed

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It’s common knowledge that self employed people must pay income tax like everyone else, but sometimes it can be tricky to know what exactly qualifies as self-employment. The taxpaying community also seems well aware of self employment tax, as well, but again the specifics get a little hazy. Today we’re going to clear the air … Read more

Penalty for Underpayment of Estimated Tax & How To Avoid It

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If you earned money through self-employment but didn’t pay estimated taxes, you may find yourself looking at an IRS penalty for underpayment. Here’s what causes a tax underpayment penalty and what you can do to avoid penalties in the future. What is the IRS Underpayment Penalty? Although you file only one tax return each year, … Read more