Business Owned & Operated by Spouses Playlist: https://www.youtube.com/playlist?list=PL60SIT917rv6kSKDmub8BUbGC4j5oZ1Fz Google Classroom: https://classroom.google.com/c/NTk1Mjc3NjI5MjM2?cjc=z3mm4rx Code: z3mm4rx OneNote Resources with Language Translation: https://1drv.ms/u/s!Ap8mLpFX7uo9g_tMABIEjK5PEXvETQ?e=mpb8bx Income Tax Preparation 2022 - 2023 ... https://www.youtube.com/watch?v=HNhK11e9VEw

IRS reminder: Approaching June 15 deadline for second quarter estimated tax payments https://www.irs.gov/newsroom/irs-reminder-approaching-june-15-deadline-for-second-quarter-estimated-tax-payments WASHINGTON — The Internal Revenue Service reminds taxpayers who pay estimated taxes that they have until June 15 to pay their estimated tax payment for the second quarter of tax year 2021 without penalty. Estimated tax is the method used to pay tax on income that isn't subject to withholding. This includes income from self-employment, interest, dividends, rent, gains from the sale of assets, prizes and awards. You may also have to pay estimated tax if the amount of income tax being withheld from your salary, pension or other income isn't enough. Who must pay estimated tax? Individuals, including sole proprietors, partners, and S corporation shareholders, generally have to make estimated tax payments if they expect to owe tax of $1,000 or more when they file their return. Individual taxpayers can use the IRS Interactive Tax Assistant online to see if they are required to pay estimated taxes. They can also see the worksheet in Form 1040-ES, Estimated Tax for Individuals for more details on who must pay estimated tax. Corporations generally have to make estimated tax payments if they expect to owe tax of $500 or more when they file their return. Corporations can see Form 1120-W, Estimated Tax for Corporations for more information. Special rules apply to some groups of taxpayers, such as farmers, fishermen, certain higher income taxpayers, casualty and disaster victims, those who recently became disabled, recent retirees and those who receive income unevenly during the year. Publication 505, Tax Withholding and Estimated Tax, has additional details, including worksheets and examples, that can be especially helpful to those who have dividend or capital gain income, owe alternative minimum tax or self-employment tax, or have other special situations. Taxes are pay-as-you-go This means taxpayers need to pay most of their taxes owed during the year as income is received. There are two ways to do that: Withholding from pay, pension or certain government payments such as Social Security Making quarterly estimated tax payments during the year. Taxpayers can avoid an underpayment penalty by owing less than $1,000 at tax time or by paying most of their taxes during the year. Generally, for 2021 that means making payments of at least 90% of the tax expected on their 2021 return. Most taxpayers who pay at least 100 percent of the tax shown on their return for tax year 2020 may also avoid the penalty. There are special rules for farmers and fishermen, certain household employers and certain higher income taxpayers. For more information, refer to Form 1040-ES, ... https://www.youtube.com/watch?v=U5yRRvYR0lE