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2024 Small Business Quarterly Estimated Taxes

Learn what IRS Quarterly taxes mean for your business and how SmartCloud Tax

 

Book your complimentary tax savings consultation now.

30 MINUTE

FREE

CONSULTATION

Quarterly Estimated Taxes for Your Business

Small business owners, entrepreneurs, and self-employed individuals earning above a specific income threshold are required to pay federal estimated taxes quarterly.

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Calculating these payments can be complex, and errors can lead to costly consequences. That's why business owners trust SmartCloud Tax to accurately calculate their federal estimated tax payments.

SmartCloud's Quarterly Estimated Tax Service vs. Traditional Firms

  1. No hourly rates or hidden fees. The price you see upfront is the total cost.

  2. Your information remains safe and secure, protected by encryption and multiple layers of authentication.

  3. We conduct a thorough analysis to verify the accuracy of audit payments, tax credits, and refunds.

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Understanding Quarterly Estimated Taxes

30 MINUTE

FREE

CONSULTATION

Work with the Professionals

If you're struggling with how to manage quarterly taxes, navigating complex IRS requirements, or simply don't have the time to tackle them, turn to the professionals at SmartCloud Tax & Accounting.

 

We simplify small business estimated taxes, making the process easy and stress-free, allowing you to concentrate on expanding your business. Our experts specialize in various industries, including real estate, trucking, and e-commerce, and serve clients across all 50 states.

When Are Quarterly Taxes Due 2024?

Estimated tax payments are due to the IRS once per quarter. Deadlines are sometimes altered from year to year.

Quarterly Estimated Taxes
  • What the difference between an LLC and a corporation?
    There are many differences between an LLC and a corporation, both large and small. One of the most significant differences is the ownership structure. An LLC is owned by one or more individuals, while a corporation is owned by shareholders.
  • How much does it cost to incorporate a business?
    SmartCloud Tax offers our LLC formation service at no cost; however, your Washington State will charge a tax-deductible fee, which varies by license type. Our fees apply only to value-added business services, available at different price points based on your selected package.
  • What type of business entity should I start?
    We generally recommend forming an LLC due to its numerous advantages for small business entrepreneurs. After forming an LLC, you have 75 days to consider choosing a different business structure, such as an S corporation.
  • How long does it take to have my business registered with the state?
    Most states process business registrations within 14 business days, although this timeframe can vary based on their current workload. Once your filing has been submitted, your SmartCloud team will notify you through the message center with an update.
  • When will I receive my EIN Number?
    Once approval is received from the state, we apply for the EIN number, and we will deliver all of your documents in your SmartCloud Tax Client Portal. Approval is normally completed within 3 business days.
  • What are the next steps after I have my business paperwork?
    With the documents we provide you will be able to open a business bank account as long as you have the state correspondence, EIN letter and Operating Agreement (available as an add-on purchase). Please note that SmartCloud Tax & Accounting is not involved in licensing and permits associated with business registration. To continue with those it would be best to contact your state’s Secretary of State or ask your SmartCloud Team for more information.
  • How do I elect to be an S corp?
    We will supply you with a pre-filled IRS Form 2553, containing all your necessary details. Just print, sign, and send the form to the IRS to elect S corporation tax status.
  • How do I communicate with the team handling my formation/dissolution?
    Send messages to your team directly through the message center in your SmartCloud Tax Client Portal. This is your go-to place for all inquiries and communications.

Let's get your business started!

SmartCloud Tax offers a variety of services for both new and experienced small business owners, enabling them to focus on growth throughout their business journey.

Setting up a new business with SmartCloud Tax & Accounting is quick, easy and saves you thousands annually.

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