Making quarterly estimated tax payments can be complex, but we make it simple. Our expert team ensures you stay compliant with CRA requirements while optimizing your cash flow throughout the year.
We calculate precise payment amounts, help you avoid underpayment penalties, and provide strategic guidance to minimize your overall tax burden while maintaining healthy business cash flow.
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Don't miss these critical deadlines. Mark your calendar and ensure timely payments to avoid CRA penalties.
*If due date falls on a weekend or holiday, payment is due the next business day
We provide comprehensive quarterly tax planning and compliance services for all types of income situations.
Making quarterly estimated tax payments can be complex, but we make it simple. Our expert team ensures you stay compliant with CRA requirements while optimizing your cash flow throughout the year. We calculate precise payment amounts, help you avoid underpayment penalties, and provide strategic guidance to minimize your overall tax burden.
If you're a business owner, freelancer, or self-employed professional, you likely need to make quarterly estimated tax payments. We specialize in helping entrepreneurs and independent contractors navigate the complexities of estimated taxes, ensuring you meet all deadlines and requirements while preserving capital for business growth.
Earning income from investments, rental properties, or other sources that don't have taxes withheld? We help you calculate and manage quarterly payments for all types of income streams, ensuring compliance while optimizing your tax strategy for maximum benefit.
Whether you're a freelancer, consultant, or gig economy worker, we understand the unique tax challenges you face. Our team provides comprehensive quarterly tax planning that accounts for self-employment taxes, business deductions, and income fluctuations throughout the year.
Executives and high earners with stock options, RSUs, or other equity compensation need sophisticated tax planning. We provide expert guidance on managing quarterly payments for complex compensation structures, helping you avoid penalties while maximizing tax efficiency.
Stock options, RSUs, ESPPs, and other equity compensation create unique tax obligations. Our specialists help you navigate the timing and tax implications of equity events, ensuring proper quarterly payment calculations and strategic tax planning around vesting schedules and exercise decisions.
You generally need to make quarterly estimated tax payments if you expect to owe $1,000 or more in taxes when you file your return, and you haven't paid at least 90% of the current year's tax liability or 100% of last year's tax liability (110% if your prior year AGI exceeded $150,000). This typically applies to self-employed individuals, business owners, freelancers, investors, and anyone with income that doesn't have taxes withheld.
Quarterly estimated tax payments are due on January 15, April 15, June 15, and September 15. If the due date falls on a weekend or holiday, the payment is due the next business day. These dates correspond to the four quarters of the tax year, though the quarters are not equal in length.
Calculate your quarterly payments by estimating your adjusted gross income, taxable income, taxes, deductions, and credits for the year. Divide your expected annual tax liability by four, or use the safe harbor rule of paying 100% of last year's tax (110% if AGI exceeded $150,000). We recommend working with a tax professional to ensure accurate calculations and avoid penalties.
If you don't make required quarterly payments, you may face underpayment penalties from the CRA, even if you receive a refund when you file your annual return. The penalty is calculated based on the amount underpaid and how long the payment was overdue. The current penalty rate is updated quarterly and is typically around 3-8% annually.
Yes, you can adjust your quarterly payments if your income or tax situation changes during the year. If your income increases, you may need to increase your payments to avoid penalties. If your income decreases, you might be able to reduce your payments. We recommend reviewing your payments quarterly and making adjustments as needed to stay compliant.
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