In last week’s Monday Morning Briefing, we wrote that 9/15 Deadline for Q3 Estimated Taxes Will Be Challenging for Practice Owners at: https://www.schwartzaccountants.com/2020/08/9-15-deadline-for-q3-estimated-taxes-will-be-challenging-for-practice-owners. And later in the week, we sent out our estimated tax reminders to our clients who we set up to pay Q3 2020 estimates to either the IRS or the states where they live or work.
2020 continues to be a challenging year to figure out estimated taxes for all our clients, especially those who own practices. If you would like us to recalculate what you should send in for estimated taxes this quarter, please e-mail us at email@example.com. To get you the most accurate payment amount, we plan to factor in your August revenue and expenses and, therefore, will hold off working through our calculations until September 1st. We’ll notify you what to pay prior to the 9/15 deadline.