How do I set up estimated taxes for my sole proprietorship?
You can download Form 1040-ES from www.irs.gov. This form package gives you guidance on calculating your estimated tax payments and the form to make the payments.
As a sole proprietor, you aren’t required to begin making estimated tax payments until you have a net profit from your business. The starting point for paying the estimated taxes can begin in any period throughout the year.
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This advice is for general information purposes only and may not apply to you. Every tax situation is different. This is not intended to be legal advice. Taxpayers should consult an H&R Block Tax Professional regarding their individual tax situation.