Business Owners Idea Cafe: Small Business Information, Resources & Tips
Small Business Tax Center
Small Business Ideas, Grants &
Plans to Start & Run a Business:

Small Business Grants
Network in Cyberschmooz Community Ask Questions Questions and Answers Share Tips

Small Business Ideas People in Biz - Profiles
Business Advice from Idea Cafe Experts Coffee Talk with Experts

Starting A Business
Business Plan Biz Planning | Sample Plans
Small Business Ideas Idea Name Your Biz Name Plan Your Biz Plan Financing $ Starting a Business Do It!

Running your Business
Marketing Tips Marketing | Sales | Customers
Human Resources HR | Employees | Contractors
Legal Forms & Tax Information Legal | Biz Forms
Managing a Business Managing | Operations

Financing Resources Financing Your Business
E Commerce & Webhosting eCommerce

Take Out Info
Trade Publications FREE Trade Publications
Business Books Biz Books

Your Own Business
Small Business News Small Biz News
Gen X Biz Gen X Biz
Work at Home Work @ Home
Business Information The Fridge - Biz Info on Ice
Send Awards Send Awards & Greetings
Yoga At Your Desk Yoga @ Your Desk
Fun Guide Guide to Find FUN Online

About Idea Cafe
Press Idea Cafe has received Idea Cafe in the News
Idea Cafe's Kudos Kudos for Idea Cafe
Advertise on Idea Cafe Advertise on Idea Cafe
Privacy Policy Privacy Policy
Contact Idea Cafe Contact Idea Cafe
Link to Idea Cafe Link to/from Idea Cafe

Join Idea Cafe

Search Idea Cafe
Site Directory Site Map
Online directory to business resources Biz Web Guide

Various 1040 Forms

• Form 1040, Individual Income Tax Return
Form 1040 rules at the top of the stack and summarizes all the other forms we submit with it.

• Form 1040 Schedule SE, Self Employment Tax
Must be filed with Form 1040 by anyone who earned over $400 in self-employment. (If you are a church employee or minister, different earnings tiers may apply so check the form.)

• Form 1040-ES Estimated Tax for Individuals
As a self-employed business owner, you don’t just deal with the IRS once a year -- you pay estimated tax four times throughout the year at set dates, so that by January of the next year, you will have paid in enough to equal the tax that will be shown on your April return or more.

You must take the initiative and keep on top of these dates and payments. Since the IRS is entrusting you as a business owner to take responsibility for paying your own taxes they don’t babysit you. Form 1040-ESP, used for computing and paying quarterly estimated tax, is one most small business owners wish didn’t exist, but it does prevent sticker shock in April since it keeps us up-to-date with tax payments through the year.

For the full scoop on paying estimated taxes, read this article.

Now, thanks to EFTPS, Electronic Federal Tax Payment System, a convenient free service from the Department of the Treasury, meeting quarterly estimated tax deadlines is a lot easier than it used to be -- you can forget about scribbling out a check at the last minute and dashing to get it in the mail with the 1040-ES Form. We’ll show how you can take advantage of it when we get to the nitty-gritty of paying the taxes you owe in our Quick & Easy section.. But if you can’t wait, go sign up for EFTPS now.

DISCLAIMER: We have provided this information to give you a general introduction to tax issues. It is distributed with the understanding that the publisher is not engaged in rendering legal, accounting or other professional service. If legal advice or other expert assistance is required, the services of a competent professional should be sought. Neither Idea Cafe Inc. nore any of its sponsors or advertisers make any representations or warrantees regarding this publication or its accuracy. In no event shall Idea Cafe Inc. or any of its sponsors, advertisers or affiliates be liable for damages, including incidental or consequential damages, in connection with or arising out of the performance or use of this publication. By utilizing this information, you are agreeing to our full terms of use.

Copyright 1995-, Idea Cafe Inc. Downloads are for personal use only, not for resale to others, and may not be reprinted in any form without written permission from Idea Cafe Inc.