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2017 Ohio IT 4708ES Ohio Estimated Income Tax Payment Voucher for Investors in Walkthrough Entities Reset Form Please cut on the dotted line. DO NOT USE PENCIL to complete this form. OHIO IT 4708ES
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How to fill out ohio estimated income tax
How to fill out ohio estimated income tax
01
To fill out Ohio Estimated Income Tax, follow these steps:
1. Gather all the necessary documentation for your income, including W-2 forms, 1099 forms, and any other income statements.
2. Calculate your total expected income for the year.
3. Determine your filing status (single, married filing jointly, etc.) and make note of it.
4. Use the Ohio income tax rate schedule to determine your tax liability based on your income and filing status.
5. Subtract your estimated tax credits and deductions from your tax liability to determine the amount of estimated tax you owe.
6. Complete Ohio Form IT 1040ES to report your estimated tax payment.
7. Mail your completed Form IT 1040ES along with your payment to the Ohio Department of Taxation.
8. Keep a copy of your completed form and payment receipt for your records.
Who needs ohio estimated income tax?
01
Ohio estimated income tax is needed by individuals who receive income that is subject to Ohio state income tax and expect to owe at least $500 in tax for the year. This generally includes Ohio residents who have income from sources such as wages, self-employment, rental properties, or other taxable sources.
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What is ohio estimated income tax?
Ohio estimated income tax is a tax paid on income that is not subject to withholding, such as self-employment income, interest, dividends, and rental income.
Who is required to file ohio estimated income tax?
Individuals who expect to owe at least $500 in Ohio income tax after subtracting tax withheld by their employer are required to file Ohio estimated income tax.
How to fill out ohio estimated income tax?
To fill out Ohio estimated income tax, individuals must use Form IT 1040ES and include their estimated income, deductions, credits, and tax payments for the year.
What is the purpose of ohio estimated income tax?
The purpose of Ohio estimated income tax is to pay taxes on income that is not subject to withholding throughout the year to avoid a large tax bill at the end of the year.
What information must be reported on ohio estimated income tax?
Information that must be reported on Ohio estimated income tax includes estimated income, deductions, credits, and tax payments.
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