by Sasi Connery on Sep 6, 2011 | Finance

Filing Estimated Taxes?

Filing Estimated Taxes? When I started my single person LLC earlier this year, I didn't expect to make a profit in my first year. As I understood it, I didn't need to file quarterly estimated taxes because I wasn't going to have a profit.



I recently acquired a small consulting job that will generate a profit for me by the end of the year. Now it looks like I SHOULD file quarterly estimated tax payments. I've already missed the first quarter. How do I remedy the situation? Further, how do people estimate profits in a situation like this?

Answer it