If I Have a Payroll Provider do I Need to Pay Quarterly Taxes?

If you have a payroll provider, they will typically handle the calculation, withholding, and remittance of payroll taxes on your behalf. However, as a business owner, you may still be responsible for filing and paying quarterly estimated taxes.

Quarterly estimated taxes are required by the IRS for self-employed individuals, sole proprietors, partners in partnerships, and S Corporation shareholders who expect to owe $1,000 or more in taxes for the year after subtracting any withholding and refundable credits.

If you are in one of these categories and you expect to owe taxes for the year, you will need to estimate your tax liability and make quarterly payments. The due dates for quarterly estimated taxes are generally April 15, June 15, September 15, and January 15 of the following year.

It is important to work with a qualified tax professional or accountant to determine whether you are required to make quarterly estimated tax payments and to ensure that you are meeting all of your tax obligations. They can help you calculate your estimated tax liability and ensure that you are making timely and accurate payments.