I'm self employed with my Pest control business can I pay my taxes yearly?
I just started my pest control company last June. Its just me ( no other employees ) and was wondering if I can pay my taxes yearly rather ten quarterly? Also what other taxes or fees do I have to pay? www.asapest.com
Asked By: Cool PR - 6/11/2008
Best Answer - Chosen by Asker
There is no option to pay Estimated Tax annually. But you may be able to avoid estimated tax payments if (1) you have no taxable income (many start-ups experience this their first few quarters in business) or (2) you withhold the bulk of your tax liability through some other means (e.g., from the paycheck you get from... More
Answered By: hrtaxlaw - 6/11/2008
Additional Answers (1)
Yes, you can. But is that the correct way of doing it? No. I know of some small business owners who pay their tax once a year....and of course, they must pay a penalty. but they tell me that the penalty is cheaper then paying a tax preparer 4 times a year.
Answered By: viajero_intergalactico - 6/12/2008
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