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Old 01-23-2007, 02:41 PM
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Can I take a payroll from my Self Employed Business

I have a sole proprietership business. Since I was late in paying my estimated taxes can I go on payroll and have the payroll company withhold what I think my tax liability is?

At least this way I can avoid paying late payment penalties and interest!



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Old 01-24-2007, 02:00 AM
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Dear Tertard,

I am afraid you are not allowed to be on payroll if you are a sole proprietership based business. If your primary concern is make sufficient year end tax withholding and you are the 100% owner of the business, consider putting your spouse on the payroll.



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