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SVTPerformance's Chain of Restaurants
Road Side Pub
Tax time..
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<blockquote data-quote="Twisted2v" data-source="post: 15828221" data-attributes="member: 119147"><p>How is your business taxed</p><p></p><p></p><p>You could underpay some of your quarterly payments, as long as you pay the difference in at December as withholding, and not be considered late. </p><p></p><p>You take a payroll and the entire gross amount goes to federal withholding. But keep in mind this will be taxable income on the W-2.</p><p></p><p>I would consider the best way to acquire the cash to pay estimates. Based on how your business is setup, you could take a draw or pay yourself extra salary.</p><p></p><p>Or the guy above, and just not pay.</p></blockquote><p></p>
[QUOTE="Twisted2v, post: 15828221, member: 119147"] How is your business taxed You could underpay some of your quarterly payments, as long as you pay the difference in at December as withholding, and not be considered late. You take a payroll and the entire gross amount goes to federal withholding. But keep in mind this will be taxable income on the W-2. I would consider the best way to acquire the cash to pay estimates. Based on how your business is setup, you could take a draw or pay yourself extra salary. Or the guy above, and just not pay. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Tax time..
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