Just A Reminder For Those Of You That Actually Pay Taxes :)

[AcidMaX]

Originally posted by Cleo
I work for my corporation and pay myself a monthly salary and I'm required to make a monthly 941 deposit. (actually I may only be required to do this quarterly, not sure)

It's monthly I also have a corporation and pay myself as an employee. I use a nice little company called PayCycle (http://www.paycycle.com - $39.95 to handle your payroll including direct deposit) to handle all my payments and tax documents etc, then every quarter I review it with my accountant and they tell me what I missed.

Right now we are getting everything together so we can get the year end taxes done with are due March 15th.

Seems like I am always paying taxes. Federal, State and then Unemployment taxes.

Keep in mind the type of corporation you are in as well. If you are an S-Corp then you have to pay taxes on all the money in the acct at the end of the year. I learned from my dad that the best way is to take a huge dividend at the end of the year and you pay less in taxes on that dividend. It was like 15% as opposed to 25+%.