" What Estimated Taxes Should the Sole Proprietors Pay ? "

Our Tax system is based upon " Pay as you go basis " i.e. Tax payer is supposed to pay 90% of the Tax liability as the tax year progresses. Generally, Self Employed Businesses will make Quarterly Tax Payments based upon prior year Revenue.

Catch:  What if the current year income is More / Less than prior year income by a wide margin?  There may be April Surprise for the Tax payer...

Solution:  Meet with your Tax professional to verify that Correct amount Quarterly Estimated Taxes are paid to avoid the April Surprise.

For More Information or Q & A Contact : 
Kash, @ (925) 963 4891

Yajnik & Mehta Associates  (YMA) 
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