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Md 502up Form

Md 502up Form

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What is a W-9 tax form? What is a W-9 tax form?

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Instructions and help about md 502up tax

[Music] hello and welcome a question i often receive from my clients is what are estimated tax payments for and why can't i just make one payment when it comes time to file my taxes some of you may have seen your estimated tax vouchers and have been making payments to the irs and your state the reason why is that the general idea of the income tax is that it's supposed to be a pay-as-you-go tax which means that you would need to pay your tax as your income is earned if many of you have worked as an employee and received a w-2 you'll notice that your taxes were taken out of each paycheck on an ongoing basis for this reason if you are a business owner of a sole proprietorship partnership or an s-corporation your income is determined on the performance of the business and you may also have other sources of income so the irs would not know otherwise what you earned throughout the year until you filed your taxes therefore your income taxes are estimated on the amount

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