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Tax Withholding and Estimated Tax Payments

The federal income tax is pay as you go.  Taxpayers must pay the tax as he receives or earns income during the tax year. There are two ways to pay taxes – withhold income tax from pay or pay estimated taxes (A quarterly payment on income not subject to withholding taxes.  The payment represents a projection of the taxpayer’s ultimate tax liability for the taxable period.

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Cathy Fisher

Common Cents Bookkeeping and Tax Preparation

Serving Henderson, NC, Buncombe County, Polk County, Transylvania County

E: cathy@commoncentsqbo.com

P: 828-595-2835

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