Tool #2 – Tax Calculation Template for S Corp & LLCs
You can use this tool to do a quick “Accrual to Cash Basis” conversion to calculate how much in estimated taxes you should distribute to the shareholders each quarter. There are separate tabs for each quarter’s calculation. This allows you to manage your business data on the accrual basis, and yet keep an eye out for taxes on the cash basis and decide quarter to quarter how much to either pay in or set aside.
Download the template for Tax Calculations for S Corporations and LLCs.
Referenced on page 75 of Simple Numbers, Straight Talk, Big Profits!
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