Today is the last day for many freelancers and small businesses to avoid a tax penalty

Today is the last day for many freelancers and small businesses to avoid a tax penalty

Quick summary:

1. You may be charged a penalty if: You forgot to pay estimated taxes or your payment was for less than 90% of the tax amount owedIn some cases, you overpaidIf you want to delve further into estimated tax penalties and conditions of a waiver, see the instructions in IRS form 2210.

2. If you earn or receive income that isn't subject to federal withholding taxes throughout the year -- side hustle earnings or income from a rental property, for example -- you'll pay as you go with estimated taxes

#biyro #business #realestate #miami #taxes

More: https://biyro.com/blog/freelance/today-is-the-last-day-for-many-freelancers-and-small-businesses-to-avoid-a-tax-penalty/

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