Quote:
Originally Posted by jmg
Just finished my corporate and personal taxes. I ended up owing much much much less even with our write-offs and business expenses remaining pretty much the same. I took a few months off, so while I took in more income while I was working, it balanced out with those two months off. I usually end up owing $15k corporate for Q4, but this time I was over. I guess that's a good thing right? I had a talk with my business manager about our tax schedule, but given there was a lot of new tax laws, I think it was acceptable that I overpaid the first few quarters (we kept the 2017 schedule to be safe). But I'd prefer not to do that again.
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it's sub-optimal to overpay quarterly taxes if you have cash flow issues. Hopefully you didn't have to finance it.
How's your business structured?