qbteachmt
Level 15
03-16-2023
10:35 PM
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"Sole proprietors can’t pay themselves wages."
Because all of it is theirs, already. They are not a cost to their own business.
"It's registered as an LlC."
You mean LLC?
Have you considered Safe Harbor for estimates? See this article:
That's what I rely on when a client has a constantly changing taxable income, and it's especially useful when they are on a constant increase. You just have to explain the difference between Safe Harbor and actually having paid in enough in estimate payments that they will hardly owe a balance, or at the least, they intend to be prepared if there is a large balance due (but at least they are not subject to penalty and interest).
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Don't yell at us; we're volunteers
Don't yell at us; we're volunteers