Tag: Self-employed Individuals
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If You Pay The Wrong Amount Of Your Estimated Income Tax Payments: Here’s What Happens
As a self-employed worker, you must pay your estimated income tax payments on time because if you’re late, you will pay penalties. And if you overpay your estimated income tax payments taxes, the IRS won’t charge you, but you’ll effectively penalize yourself. For the 2023 tax year, estimated income tax payments are due on…
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CRA Has Extended The Tax Deadline For Self-employed Individuals And Their Spouses/Partner
The second deadline for self-employed individuals and business owners to file their taxes for the year has passed. The majority of Canadians were expected to file their taxes by May 1 this year, according to the Canada Revenue Agency (CRA), but anyone who is self-employed and their spouse or common-law partner must do so by…