Is there anything I have to between NOW and tax filing season in April?

Forum|Forum|1 year ago
August 28, 2024
1 reply
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I started my business this year and have already made tax payments to the IRS. I plan to pay the remaining amount by the next quarterly due date. Is there anything else I need to do?

evelynm

I recommend you continue to check on your tax liability using TurboTax tax caster.

Tax Caster

It's also proactive to do tax planning to get the most of deductions and credits including retirement contributions.

Start Tax Planning

The self-employed 401(k) contribution limits are $23,000 in 2024 and $22,500 in 2023. This is the amount you can contribute in elective deferrals, up to 100% of your earned income as a self-employed individual.

Self Employed 401K

Additionally, if you have independent contractors and/or employees there are filing requirements due in January.

Have an amazing day. Evelyn M (CPA 20+ years)I would love a thumbs up :) + Mark the post that answers your question by clicking on "Mark as Best Answer"