Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 03-19-2015, 10:26 AM
Junior Member
 
Join Date: Mar 2014
Posts: 5
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 ?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 03-20-2015, 03:00 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,258
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.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Have not filed an 1120 for the last 3 years. jdcaro55 C-Corporation 3 01-19-2013 12:36 AM
1120 tax question C-Corp coolpet C-Corporation 0 07-31-2010 05:21 PM
S-Corp Estimated Tax Question greyuser S-Corporation 1 02-04-2009 10:32 AM
C Corp Estimated Taxes in Arrears??? ngallishaw C-Corporation 0 09-12-2008 12:59 PM
IRS Issues Final Versions of 2007 Form 1120-F and New Schedule M-3 (1120-F) TaxGuru C-Corporation 0 06-27-2008 11:19 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.