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5
Posted on 4/10/24 at 10:48 am to bigeasy225
quote:
Shouldn’t my accountant tell me what that estimated number is though?
I don't remember the number, its something like 90% though. I think its like 90% of last year's income or 90% of this years, whichever is great. So if you went up exponentially then you need to estimate it, yes. If its close to last year then I think you can use last years.
Posted on 4/10/24 at 3:44 pm to bigeasy225
Yeah, there is an estimated payment amount on the extension form you file. I don't know how they come up with the number. I just know you have to pay it by April 15 and your return is due in October. Same process for state and federal just different deadlines.
Posted on 4/10/24 at 11:00 pm to bigeasy225
quote:
Shouldn’t my accountant tell me what that estimated number is though?
Yes
Posted on 4/11/24 at 11:44 am to bigeasy225
quote:
Shouldn’t my accountant tell me what that estimated number is though?
I can tell you what I do.
If you have ALL of your information to me by a deadline (this year it was Friday, March 8), I will get your return done, or if there is some reason we need to extend, I will give you the best estimate I can of what you will owe so you can pay it in.
If you get me your info in the two weeks after that (in this case, March 9 - 22), I will run a estimate of what you will owe, I will over-estimate the amount to be safe and give it to you. I am also charging you extra for this.
If you get me your info between March 23 - April 8, I will file an extension for you but I am not calcualting anything, so either you tell me how much you want tm pay, or I will file it with 0 payment.
IF you get me your info after April 8, you are on your own for an extension, I'm not even looking at it right now.
If your CPA was not clear to you about his deadlines, that's on him, if you ignored them, that's on you.
Posted on 4/15/24 at 6:02 am to bigeasy225
quote:
Shouldn’t my accountant tell me what that estimated number is though?
Depends if you got them enough info to determine an amount to pay in.
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