Business Taxes
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- Per Diem Rates - IRS Publication 1542 Oct 2011 for Travel Within the Continental U.S (for employers who pay a per diem allowance to employees)
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Need Some Deductions for 2011?
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Updated for 2011
Business Taxes: Estimated Taxes
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When You May Have to Pay Estimated Taxes
The General Rule:
You must pay estimated tax for the current tax year if both of the following apply:
- You expect to owe at least $1,000 in federal income taxes in the current year AFTER subtracting federal income taxes withheld and any tax credits. (Do not subtract any estimated tax payments.)
- You expect your withholding and credits to be less than the smaller of:
- 90% of the tax to be shown on your current year's tax return, or
- 100% of the tax shown on your previous year's tax return. Your previous year's tax return must cover all 12 months.
Next:
Estimated Taxes: How to Calculate Estimated Taxes
Related Links
- Estimating Your Taxes From Scratch
- The Safe Harbor Approach to Estimating Your Taxes
- Installment Dates For Estimated Tax Payments
- Estimating Taxes When Income is Received Later in the Year
- How to Pay Estimated Taxes
- Married Taxpayers
- Separate Returns and Joint Returns and Estimated taxes
- Figuring Your Share of the Tax on a Joint Return for Estimated Tax Purposes
- Higher Income Taxpayers and Estimated Taxes
- Resident and Nonresident Aliens and Estimated Taxes
Copyright © 2008-2012 Larry Villano. All rights reserved.