Estimated Tax Payments
Evolution_Mktg_2016
Member Posts: 3
Hello! I'm slightly confused in regards to tax payments and hoping someone can clarify for me!!! I am a sole proprietor where I elect to file my taxes as an S-Corp. I pay myself as an employee through Wave Accounting. It is to my understanding that Wave handles all of the tax payments, however, my accountant that files my annual tax return gave me Estimated Tax Payment slips for Federal and State. Is this something I still have to pay in addition to the taxes I am paying, that Wave is handling??!
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Hi @Evolution_Mktg_2016! Thanks for reaching out. If you are in a Tax Service state Wave will file and remit taxes on your behalf. You can see what payments we will make on your behalf and the forms we would fill out on your behalf through this link here: Tax Services with Wave.
@Evolution_Mktg_2016,
Your accountant should help you adjust the estimated taxes since you are going on payroll.