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How to calculate estimated tax payments

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How do I calculate my estimated taxes?

In most cases, you must make estimated tax payments if you expect to owe $1,000 or more in taxes for the year—over and above the amount withheld from your wages. In some cases, though, the $1,000 trigger point doesn’t matter.

  • If your prior year Adjusted Gross Income was $150,000 or less, then you can avoid a penalty if you pay either 90 percent of this year’s income tax liability or 100 percent of your income ...
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Texas Workforce Commission Due Dates

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TWC Tax Report/Remittance Due Dates
and
Mailing Instructions

Due Dates for Employers’ Quarterly Report and Remittance:

For Wages Paid During Calendar Qtr. Ends Due Must be Filed/Paid By
Jan, Feb, Mar March 31 April 1 April 30
Apr, May, Jun June 30 July 1 July 31
Jul, Aug, Sep September 30 October 1 October 31
Oct, Nov, Dec December 31 January 1 January 31

Due Dates for Annual Domestic Employer’s Report and Remittance:

Quarterly reports and taxes become due on January 1 and are required to be reported and paid no ...

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Hollis CPA Firm is proud to announce the availability of our app in the Android store.

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Hollis CPA Firm is proud to announce the availability of our app in the iTunes app store!

 

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The Home Office Deduction: Not Taboo Anymore!

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In the past, there were a lot of naysayers who avoided the Home Office deduction because they thought it might be a red flag for an audit, but the truth is;  in today’s economy, working from home is a common occurrence. The IRS processed over 100 million returns that were e-filed in 2010 and the home office deduction is the least of their concerns. Millions of people are flocking to home based businesses due to the high unemployment rate,  loss of salaried positions, lure of unlimited income ...

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Complete Financial Solutions

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Complete Financial Solutions

We provide a wide range of services to individuals and businesses in a variety of industries. At Hollis CPA, LLC, we strive to meet each client’s specific needs in planning for the future and achieving their goals in an ever-changing financial and regulatory environment.

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Entity Selection & Restructuring

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Entity Selection & Restructuring

Your business entity has a large impact on your taxes and other liabilities. From your company’s inception through its growth and development, Hollis CPA, LLC can advise you on choosing an entity type and later restructuring if advantageous.

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Tax Preparation Services

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Tax Preparation Services

At Hollis CPA, LLC, not only do we prepare your tax return but we guide our clients through a full range of tax planning and preparation decisions with strategies that minimize your tax liabilities. Our expertise, experience, analysis and thorough research allow us to optimize financial opportunities to be found in existing as well as recently altered tax laws.

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Financial Reporting Services

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Financial Reporting Services

No one can predict the future perfectly, but we can all benefit from planning for it. Hollis CPA, LLC combines expertise and experience with a gained understanding of your business to produce financial projections that can help you manage your business plan and spending. Depending on your needs, our work can range from top-level reports to detailed financial models.

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