In this short video, Peter Witts CPA, PC talks about estimated tax payments.
Estimated tax payments are made by individuals and businesses to the IRS to cover income not subject to withholding (e.g., self-employment, rental, investment) and help meet tax obligations to prevent underpayment penalties. Peter Witts CPA PC explains further in this short video.
Peter Witts has over two decades of specialized experience in Government Contract Accounting. With a background that includes working at the Defense Contract Audit Agency (DCAA), Peter brings a wealth of knowledge and expertise to his clients. During his tenure at DCAA, he was involved in a wide range of audit-related activities for both large aerospace contractors and small business contractors. Peter has successfully designed and implemented government contract accounting systems, prepared incurred cost submissions, developed forward pricing rates, conducted NIH A-133 Program Audits, and supported numerous DCAA audits for clients. With a deep understanding of the unique challenges faced by businesses in the government contracting industry, Peter's goal is to help clients navigate the complex world of government accounting with confidence.
I’m Kristin, the PWCPA PC Customer Success Specialist. For more information about this topic, or any other, you can always reach me through our customer ticketing system.