Greenleaf Accounting

Virtual Bookkeeping & Accounting Services

(814) 450-0072
  • Email
  • LinkedIn
  • RSS
  • Twitter
  • Home
  • Services
  • About
  • Testimonials
  • Blog
  • Contact

Estimated Taxes Due For Q4!

January 15, 2018 by Deb Howard Greenleaf

Estimated Taxes Due! by Greenleaf AccountingFor millions of small business owners, freelancers, consultants and other self-employed folks, April 15th isn’t the only “Tax Day” to worry about. For business owners subject to estimated taxes, tax payments are due four times each year, on April 15th, June 15th, September 15th and January 15th (or January 16th in 2018, because of MLK Day!).  These payments are called “estimated tax payments” and are meant to approximate one quarter of your annual tax liability.

Determining just how much to pay each quarter can be tricky, as it involves calculating the Net Profit for your business.  Once you know your quarterly Net Profit, there are few sites to help you make the tax payments themselves:

  • IRS Direct Pay is the new site that lets taxpayers pay their estimated taxes directly from a checking or savings account without any fees or pre-registration. One bonus is that taxpayers receive instant confirmation that the payment has been submitted. With IRS Direct Pay, however, you can only schedule up to 30 days in advance.
  • EFTPS.gov is the IRS site where you can set up payment via e-check and schedule your payments further in advance. Be forewarned that setting up your account can take up to two weeks, so you’ll want to have your login credentials ready well before your tax payment due date. The nice thing with EFTPS, though, is that you can schedule all of your estimated tax payments for the year in advance.

Looking for more information on estimated tax payments? The IRS site provides tons of information, including downloadable forms, due date calendars, and resources to request additional information.

Of course, hiring a professional bookkeeper is the easiest way to ensure that you are making the appropriate estimated tax payments. Ready to work with a pro? Contact us today to learn about our virtual bookkeeping services, including electronic payment of your estimated taxes.

Deb Howard Greenleaf
Deb Howard Greenleaf

Deb Howard Greenleaf, EA, CEO and Principal, of Greenleaf Accounting Services provides virtual accounting and bookkeeping services and specializes in financial management to consultants, coaches, solo professionals, and other small business owners across the US. Deb is an Enrolled Agent (EA)—an IRS-licensed tax professional—and specializes in small businesses and entrepreneurs filing Schedule C or as an LLC. As an Advanced Certified QuickBooks ProAdvisor, Deb spends her day in QuickBooks Online and specializes in providing QBO support.

Related posts:

Default ThumbnailIt’s Tax Day Again? How to Record Estimated Tax Payments by Greenleaf AccountingHow to Record Estimated Tax Payments Default ThumbnailEstimated Quarterly Taxes Due Soon! Default ThumbnailTime for Estimated Taxes

Filed Under: Bookkeeping, Small Biz Taxes

Free 1099 Success Cheat Sheet

Want to be ready for 1099s at year end? Learn how with my 1099 cheat sheet.

Browse by Topic

  • 1099 Reporting
  • Best Practices
  • Bookkeeping
  • Greenleaf Accounting
  • New Business
  • Quotations
  • Small Biz Taxes

Recent Posts

5 Best Practices for Invoices That Get Paid Faster

We're excited to introduce a few new voices with the first in a series … [Read More...]

How to Pay yourself as an S-Corp

If your business is set up as an S-Corp (or an LLC with an … [Read More...]

Is an S-Corp Right for Your Business?

With all the recent tax shakeups, more and more small businesses are … [Read More...]

Estimated Quarterly Taxes Due Soon!

It's that time! The deadline to pay your fourth estimated tax payment … [Read More...]

Contact

(814) 450-0072

Free 1099 Success Cheat Sheet

Want to be ready for 1099s at year end?
Learn how with my 1099 cheat sheet.

Recent Posts

  • 5 Best Practices for Invoices That Get Paid Faster
  • How to Pay yourself as an S-Corp
  • Is an S-Corp Right for Your Business?
  • Estimated Quarterly Taxes Due Soon!
  • Budgeting for 2019

Reliable, Efficient and Precise

“Deb has handled my company’s invoicing and bookkeeping with impeccable attention to detail and service for several years. She is reliable, efficient and precise – remembering logistics, following through on details, and always smiling. I appreciate her help and value her expertise in handling my finances. Deb is the quintessential professional – I highly recommend her without hesitiaton.”

– Dr. Camille Preston, Owner,
AIM Leadership, LLC

Knows Her Stuff Inside & Out

“Deb is an amazing person, not only at what she does (in which she excels) but her personality is simply the best! She is always in clear control of her work; she knows her stuff inside and out; and she’s such a joy to work with and to count as a friend! I would highly recommend Deb to anyone who is looking for someone who is “above and beyond” the normal bookkeeper.”

– Vickie Turley, Chief Administrative Manager,
BossaNova Consulting Group, Inc.

© 2023 Greenleaf Accounting Services · Privacy Policy · Terms and Conditions