Legal Question in Tax Law in California
''S'' Corp Quarterly Tax
My tax guy says I should be paying 21.6% of my gross income for federal tax, but shouldn't it be 21.6% of the net income?
Asked on 1/03/08, 1:02 am
2 Answers from Attorneys
Jeb Burton
The Burton Law Firm
Re: ''S'' Corp Quarterly Tax
You don't pay tax on money you had to pay for expenses. Without knowing the situation, I would speak to another CPA. If you are not using a CPA for an S-Corp, get one.
Answered on 1/03/08, 11:22 am
Jeb Burton
The Burton Law Firm
Re: ''S'' Corp Quarterly Tax
You don't pay tax on money you had to pay for qualified expenses. Without knowing the situation, I would speak to another CPA. If you are not using a CPA for an S-Corp, get one.
Answered on 1/03/08, 11:23 am
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