How to Deal with Quarterly Tax Estimates as a Small Business Owner
Description
Understanding quarterly tax estimates is one of the biggest challenges small business owners face. In this episode of The Profit Pillars Show, Parker Stevenson (CEO of Evolved Finance and author of Profit Pillars) explains exactly how quarterly taxes work, how accountants calculate them, and what you can do to avoid IRS penalties while protecting your cash flow.
Parker walks through why taxes feel so different once you start running your own business, how the IRS safe harbor rule keeps you compliant, and why overpaying your estimates can actually hurt your bottom line. He also shares what to do if your income drops mid-year and how to plan ahead when your profits start to grow. By the end of the episode, you'll know how to manage your quarterly estimates with confidence and keep more of your money working for your business.
If you've ever felt confused or stressed about quarterly taxes and just wanted someone to break it all down in plain English, this episode is for you.
Timestamps:
1:41 The risks of trying to calculate and pay taxes on your own
4:08 How accountants determine your quarterly tax estimates
7:07 Understanding the IRS safe harbor rule
9:07 Why paying more than required can hurt cash flow
9:35 What to do if your business earns less than the previous year
14:01 Why estimates don't need to be recalculated every quarter
15:08 Planning ahead when your income is growing quickly
16:39 How estimates reduce stress and avoid penalties
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Resources & Links From This Episode
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About the Show
The Profit Pillars Show by Evolved Finance gives entrepreneurs the guidance and clarity they wish they had sooner. Each episode delivers actionable advice based on Parker's years of experience helping business owners grow stronger, more profitable businesses.
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