Small Business Taxes Made Easy: Estimated Tax Payments (Completed)

Date: Tuesday, July 28, 2020
Instructor: Eva Rosenberg
Begin Time:  12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

Join the class to learn how to set up or improve your business during this COVID19 time in the world. This course is based on the tips and tools discussed in TaxMama’s latest book, Small Business Taxes Made Easy. Who needs to make estimated tax payments these days? When and how to pay the taxes. And what to do when the business cannot afford to make the estimated tax payments – or to even pay their tax liability when it’s time to file their tax returns.

While not required, having a copy of the textbook Small Business Taxes Made Easy, 4th Edition is beneficial.

Who Should Attend
Tax practitioners at all levels regardless of tax practice and Business Owners.

Topics Covered

  • An overview of the rules for paying estimated taxes
  • Who should be making estimated payments — and how can you get around it?
  • TaxMama's short-cut computation
  • Setting up online payment arrangements with the IRS and state
  • Avoid the common errors taxpayers make when paying estimated taxes
  • Establishing a manageable payment schedule — regardless of the IRS' schedule
  • The wisdom or folly of using the money for operations instead
  • Opps! You got behind — how to avoid penalties
  • Worse — you cannot pay the balance due at all. Now what?
  • Strategy to minimize estimated payments when the taxpayer is arrears on the other years — and facing IRS offsets against refunds
  • Estimated tax payment resources

Learning Objectives

  • Identify the easiest way to determine how much to pay, how to meet the minimum payment amounts, and what to do when the taxpayers cannot afford to pay the taxes they owe

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

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