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let me quickly talk to you about irs form 1040es line by line instructions let's talk about estimated tax worksheets for individuals don't go anywhere so [Music] welcome back folks to another edition of the awesome suited q a show how are you today i hope you are doing fantastic i'm doing marvelous if you ever ask me if you are doing as great as i am go grab a cup of coffee or tea or vodka let's roll in today's conversation i want to talk to you about iris form 1040es estimated tax for individuals what is it i mean as we all know income tax is a pay-as-you-go system so if you are an employee you pay federal withholding as a part of every paycheck right every two weeks or every every week or every 30 days but if you are self-employed you might have to make quarterly estimated tax payments toward the amount you expect to owe the ad rights or you might have and something called an underpayment penalty so this payment should include both your income and self-employment taxes and are repor...
