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Old 03-19-2015, 10:26 AM
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1120-W estimated tax for S-Corp

I have a S-Corp and I am the only employee.
I file estimated taxes 1140-ES , but do i need to file 1120-W quarterly ?
How do i estimate the Corp estimated tax if my profit for the year is going to be 100k ?



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Old 03-20-2015, 03:00 AM
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I file estimated taxes 1140-ES , but do i need to file 1120-W quarterly ?=========>>>>>>>>You as owner have a 1040 and pay your estimated taxes under your SSN with form 1040-ES. Depending upon the amount of income that your business generates you may also need to make quarterly estimated tax payments using Form 1040-ES. Form 1120-Wis for a corp Estimated Tax Worksheet.






How do i estimate the Corp estimated tax if my profit for the year is going to be 100k ?===============>>>>>>>> S Corps must also make estimated tax payments for certain taxes.your s corp is a pass-through entity. It does not pay income taxes. you pay income tax on the profits of the corp. so, if your S-corp is brand new and never was a C corp, then it generally won't owe income taxes of it's own unless there are excise taxes to state government. There are rare circumstances, however, when S-Corps do have to pay estimated taxes. An S Corp must make installment payments of estimated tax if the total of the following taxes is $500 or more: The tax on built-in gains
;The excess net passive income tax; and The investment recapture tax.if not ,no need to pay estimated taxes.



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