15 min
[Members only preview] Taxes made easy: automate your quarterly tax payments Coffee Powered Systems
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- Entrepreneurship
Members Only Preview Episode: Grab your favorite beverage and tune into this episode about the boring (but necessary) quarterly taxes! I’m breaking down how I organize and automate taxes in my business, from saving my tax money to paying the IRS. Set it and forget it! I also detail the quarterly payment schedule and my personal method using Wave Accounting and automatic transfers to manage tax payments efficiently.
Discussed In This Episode:
Self-Employment Quarterly Taxes Overview (00:00:00) Explanation of self-employment quarterly taxes and the importance of setting aside money for tax payments.Paying Taxes and Avoiding Penalties (00:01:14) The consequences of late or missed tax payments and the impact on annual tax filings.Paying Federal and State Taxes (00:02:19) Guidance on where to find forms and links for paying federal and state taxes.Due Dates and Tax Periods (00:03:38) Explanation of quarterly tax due dates and the periods they cover, including exceptions for annual tax filers.Estimating and Setting Aside Tax Payments (00:05:43) Calculating and setting aside tax payments based on income, tax brackets, and avoiding large refunds.Automating Tax Payments (00:06:42) The speaker's process for automating tax payments using Wave Accounting, Stripe, and Sofi's vaults.Government Withdrawals and Record-Keeping (00:10:15) Delegating tax payments to the government, record-keeping, and accessing payment history on government websites.Planning for Future Tax Payments (00:13:40) Preparation for upcoming tax payments in 2024 and the importance of seeking professional advice for individual tax situations.
Links Mentioned:
https://www.eftps.gov/eftps/ (federal payments)Form 1040-ES, Estimated Tax for Individuals (PDF)Wave AccountingSoFi Checking
Other Helpful Links:
Upgrade to Coffee PerksFree Procrastination Styles AssessmentWebsiteInstagram (@mirandamerten)
Do You Need More Structured Help In Your Business?
Subscribe to Coffee Perks where you’ll get Weekly tips, hot finds, and actionable articles and podcast episodes to help you automate your business and reduce tech overwhelm with purposeful productivity. I see the same thing from entrepreneurs like you every day- progress stalls because they get stuck on the tech. Don't let tech keep you stuck!
If you’re ready to get a little extra help in your business, visit mirandamerten.com/coffeeperks to sign up for free.
Members Only Preview Episode: Grab your favorite beverage and tune into this episode about the boring (but necessary) quarterly taxes! I’m breaking down how I organize and automate taxes in my business, from saving my tax money to paying the IRS. Set it and forget it! I also detail the quarterly payment schedule and my personal method using Wave Accounting and automatic transfers to manage tax payments efficiently.
Discussed In This Episode:
Self-Employment Quarterly Taxes Overview (00:00:00) Explanation of self-employment quarterly taxes and the importance of setting aside money for tax payments.Paying Taxes and Avoiding Penalties (00:01:14) The consequences of late or missed tax payments and the impact on annual tax filings.Paying Federal and State Taxes (00:02:19) Guidance on where to find forms and links for paying federal and state taxes.Due Dates and Tax Periods (00:03:38) Explanation of quarterly tax due dates and the periods they cover, including exceptions for annual tax filers.Estimating and Setting Aside Tax Payments (00:05:43) Calculating and setting aside tax payments based on income, tax brackets, and avoiding large refunds.Automating Tax Payments (00:06:42) The speaker's process for automating tax payments using Wave Accounting, Stripe, and Sofi's vaults.Government Withdrawals and Record-Keeping (00:10:15) Delegating tax payments to the government, record-keeping, and accessing payment history on government websites.Planning for Future Tax Payments (00:13:40) Preparation for upcoming tax payments in 2024 and the importance of seeking professional advice for individual tax situations.
Links Mentioned:
https://www.eftps.gov/eftps/ (federal payments)Form 1040-ES, Estimated Tax for Individuals (PDF)Wave AccountingSoFi Checking
Other Helpful Links:
Upgrade to Coffee PerksFree Procrastination Styles AssessmentWebsiteInstagram (@mirandamerten)
Do You Need More Structured Help In Your Business?
Subscribe to Coffee Perks where you’ll get Weekly tips, hot finds, and actionable articles and podcast episodes to help you automate your business and reduce tech overwhelm with purposeful productivity. I see the same thing from entrepreneurs like you every day- progress stalls because they get stuck on the tech. Don't let tech keep you stuck!
If you’re ready to get a little extra help in your business, visit mirandamerten.com/coffeeperks to sign up for free.
15 min