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Medinaverlyngo
Answered

Estimated Tax Payments
As an employee, some of your taxes are paid with
each paycheck throughout the year. But as a self-
employed business owner, you need to estimate what
you will need to pay in the upcoming year and make
payments four times a year, or quarterly.
If Chinwe owes $2,164.00, what would her
quarterly payments be?
Type in payment amounts in each open field.
Payment of

April 15
Payment of

June 15
Payment of

September 15
Payment of

January

Estimated Tax Payments As An Employee Some Of Your Taxes Are Paid With Each Paycheck Throughout The Year But As A Self Employed Business Owner You Need To Estim class=

Answer :

Answer:

The right answer is 541

Anthougogo

Chinwe's Quarterly Payment of her upcoming year's tax liability will be as follows:

Payment Date  Payment     Tax Liability

April 15              $541          $1,623 ($2,164 - $541)

June 15              $541         $1,082 ($1,623 - $541)  

September 15   $541          $541 ($1,082 - $541)

January 15         $541             $0 ($541 - $541)

Data and Calculations:

Estimated liability for upcoming year = $2,164

Payment period = Quarterly or 4 times a year

Quarterly payments = $541 ($2,164/4)

Thus, Chinwe's quarterly payment is $541.

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