Did you accidentally pay your 1040 ES tax from your business account? #accounting

1 year ago
31

📌 Remember: An LLC taxed as an S corp means profits flow to your personal account, and that's where taxes are paid.
✅ Quick Fix: Mistakenly used your business account? Simply label it as an owner's draw.

For S corps, estimated tax payments should ideally come from personal accounts, as it's a personal, not business, tax. Stay informed and streamline your transactions! 💼🔄

#Smallbusinessowner #taxseason #entreprenuer #sidehustle #startup #budgeting #personalfinance #taxplanning #taxstrategy #taxtok #tax #taxes #taxdeductions

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