I have a long-term capital gain tax and need to make quarterly estimated tax payments. I realized a long-term capital gain that will result in approximately $65,000 in taxes for the year. I am unsure whether to pay the full amount of the capital gains tax in April or split it into four quarterly payments. Additionally, I am concerned about meeting the requirement to pay 110% of my 2023 taxes, as this amount would cover the full capital gains tax plus my regular W2 income tax, which is similar to last year's amount.

August 7th, 2024

I don't earn much money and haven't reported my income to the government because they won't help me pay rent. I work cash jobs without a work permit and my son is a citizen. HRA provides some rent assistance. I'm afraid that if I apply for a credit card to build my credit score and show my salary, they will stop the rent assistance. How can I handle this situation without risking my current benefits?

February 24th, 2023

How much are my 1040 tax installments for 2016?

March 15th, 2023

I've decided to donate to an orphanage through my Scorp. Since the orphanage isn't a 501c3, it likely won't be tax-deductible. How should I categorize this donation on my Scorp PnL? Should it be seen as an owner's draw for taxes next year, and can I still put it as an expense under the category 'Cash Donations' or should it be on the B/S as an Owner's Expense?

November 9th, 2024

Can you explain HSA, HRA, and FSA? How do they work and what are their benefits?

February 28th, 2024