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🎙️Plan for big tax bills!💰-Sponsored by Flow Digital and Pipedrive!

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I've seen a lot of companies all of a sudden they have to pay in taxes they weren't planning for it so in all of a sudden this huge tax bill. >> So the minimum that you putting away is if you're required to make tax estimates on a quarterly basis, make those tax estimates for two reasons. Number one for cash flow, you know what estimates you have to make and when. Number two, if you don't make the estimates the IRS is going to penalize you, right? And that's money in the garbage, right? So you may as well make the estimates. What I have situations is where and let's assume you're projecting that although I'm going to make the estimates I'm still going to owe money, then you may not be penalized by the IRS if you're going to pay that money in April, but you have to have that money in April. So you have to discipline yourself to put aside money for taxes to cover your estimates and to at minimum cover your estimates and to project.