Speaker - December 2017

“If you don’t think
every day is a
good day, just try
missing one.”

—Cavett Robert, CSP, CPAE, NSA Founder

BY THE
NUMBERS

ORGANIC SEARCH

Google searches per day.

Smart Insights, 2017

Search queries that are four words or longer.

WordStream, 2016

The number of words in an average Google first page result.

Backlinko, 2016

Percent of clicks that go to the top three Google results.

Ignite Visibility, 2017

Year-End Tax Tips to Avoid Penalties in 2018

1ES TIMATE YOUR TO TAL TAXES.

Ask your tax preparer or use a free tax service to estimate your taxes by entering an estimate of your 2018 income, deductions, and credits.

Take into account increases or decreases in your business and changes in dependents, as well as nonrecurring gains or losses.

Subtract your expected

2018 withholding from your total tax due to determine the shortfall. For

2018 planning purposes, you may either pay the shortfall throughout the year by increasing withholding (on either spouse if married filing jointly) or you must pay estimated taxes in April, June, September, and January.

IF YOU’RE KEEPING YOUR FINGERS CROSSED THAT YOU DON’T HAVE A HUGE AMOUNT OF TAXES DUE come April 15, there is a better way. Try these tips to be sure you don’t get surprised by an unexpected tax bill each year.

2PAY ENOUGH TO AVOID PENALT Y.

Generally, you will not be penalized for underpayment if you pay in as much as you owed the prior year.

For estimated tax purposes, you can then subtract the expected withholding for 2018 from the total taxes for

2017 to determine the amount you need to pay through estimated taxes to avoid a penalty.

Avoid the penalty by paying in four installments, starting with April 15, and make sure the withholding throughout the year does not dip below the

2017 amount.

3SE T MONE Y ASIDE AS YOU GO.

If your only significant taxable income is from your company, divide the estimated tax total by your total business revenue.

That will tell you what percent of every top-line revenue check you receive should be set aside for estimated taxes in a savings account set up specifically for this purpose.

If your company profits are increasing and you are paying enough to avoid penalty, as described above, you will be short on April 15, 2019, when your 2018 return is due. By setting aside a percent of revenues as you go, the shortfall will be ready and waiting in the tax savings account.