Pay Taxes The Convenient Way
Intro to online payment system: EFTPS
Not Paying Taxes
Its shockingly common
Fat Joe sentenced to four months in prison for tax evasion. Rapper failed to file tax returns between 2007-2010
Agenda
Explain estimated tax payments Who has to Pay Why Its Crucial Estimating income Electronic Federal Tax Payment
system
Estimated Tax Payments
Estimated tax is the method used to pay tax on: Untaxed earnings Self-employment Rents Unemployment and SS benefits without voluntary
withholding, Pay Taxes 4 times a year
January April June September
Who Has to Pay
General Rule you expect to owe $1,000+
Self Employed Home based business owners
Why Its Crucial
You do not want to go to prison You can’t afford the penalties and
interest You do not want assets to be
garnished In your older years you do not want
the tax burdern
EFTPS
Online Payment System Internet can help you organize your
business Make Payments electronically
Secure, Easy and Convenient Funds Move out of your account on the
date you select
https://www.eftps.gov/
Choose Business Type
4 Easy Steps
Estimating Income
Form 1040-ES (PDF) helps you calculate
Use Prior Year as a Guide Income, deductions, credits include it
all Do not underpay taxes
Interest and penalties
Come To Us
Office Address: 5930 Haverford Avenue Philadelphia, PA 19151
Off: (215) 476-7000 Fax: (215) 476-7100 Cell: (215) 479-2079
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