Quote:
Originally Posted by wdfifteen
Technically it's the package of forms you send to the IRS to determine how much money to send them.
But I think we are talking about tax refunds - something I have no experience with.
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Since I have a business that is a LLC, I have to estimated (guess) what profit and loss we will have for a year, and make quarterly tax payments. We had a couple of "whale" jobs last year, and had a great year. Trying to guess how many expenses, and the depreciation for the equipment will add up to I did my best guess. I ended up overpaying overall. That is better than a large tax bill due at the end of the year. The whale jobs meant a nice checkbook balance, and very liquid assets. Now we want more whales!