In this episode, Chris Picciurro explains the concept of quarterly estimated tax payments, which are required for self-employed individuals, business owners, or rental property owners. He discusses the due dates for these payments and the rules for calculating the amount to be paid. Chris also highlights three complications that individuals may encounter when making quarterly estimated tax payments and provides tips for making the payments.Key Takeaways: Quarterly estimated tax payments are required for self-employed individuals, business owners, or rental property owners. The due dates for quarterly estimated tax payments are April 15, June 15, September 15, and January 15 of the following year.The amount to be paid is the lesser of 100% of the previous year’s tax liability or 90% of the current year’s tax liability.Complications can arise for individuals with seasonal income, significant changes in income, or when filing a tax extension.Penalties and interest may be assessed for failure to make quarterly estimated tax payments.Quotes:“As a taxpayer, it’s your responsibility to make your tax payments.” - Chris Picciurro“Make sure you make those quarterly estimated tax payments and work with someone to figure that out.” - Chris PicciurroResources:IRS Form 2210IRS Form 1040-ES (payment voucher)Episode Sponsor:Legacy Lock (www.teachingtaxflow.com/legacy)DISCOUNT CODE: Enduring1295

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