What Are Estimated Taxes? How Do They Work? What Should You Do About Them?

A few weeks ago, I was talking with a client about his 2023 taxes. About the fact that he hadn’t paid estimated taxes in 2023. And that a probably big, but who-really-knew-how-big tax bill was looming before April 15. And that his CPA would give him some recommendations for paying estimated taxes in 2024. And that he should pay those estimated taxes so we’re not in this position again next year.

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What Are You Excited About?

Block Women is posed slightly above the ground with white inverted curves behind her, indicating jumping. There are also exclamation marks above Block Woman's head, symbolizing excitement.

In my business, the whole team (the whole three of us) gather in December for an annual offsite, a full day dedicated to looking back on the year that’s about to end and forward to the year that is about to begin. A full day also dedicated to lattés, laminated bakery goods, and a delicious lunch with a view of Bellingham Bay. ‘Tis VERY IMPORTANT that such matters be attended to.

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