Ok, tax time around. LLC S-corp. My wife has her W2 and I do have mine. The profit is $100k. My tax accountant says I have to pay our tax bracket on this profit. In our case 30%. So $30k in taxes.
I get that I have to pay taxes but what is the best way to deal with this? I can’t predict the year end profit so I don’t want to pay quarterly.
How do you deal with this?
What’re you getting at? You say you “get that you have to pay taxes.” So what are you asking? You made the money, you pay the taxes. What is the “best way to deal with this?” File electronically with the IRS.
I learned in this sub that you can pay quarterly to make it less painfully and adjust the amount as you go.