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In this video, the speaker shares their personal approach to tax preparation, emphasizing the importance of consulting a local CPA or tax preparer for legal and tax advice. They explain their experience managing their own salon business with an LLC, stressing the practice of paying quarterly taxes to avoid a large end-of-year tax bill. The speaker suggests looking up quarterly tax dates for better understanding, using the example of tax periods from 2016. They note that the first quarter ran from January 1st to March 31st, illustrating the concept of quarterly tax payments.