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1040ES SOLE PROPRIETORS INCIDENCE SURVEY 300 Sole Proprietors November 2007INTRODUCTIONHello. My name is with ARC Research, an independent market research company. I am calling on behalf of the Financial
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1040-ES is a form used by sole proprietors to estimate and pay their taxes on income that isn't subject to withholding.
Sole proprietors who expect to owe $1,000 or more in taxes and will not have enough withheld from their income are required to file Form 1040-ES.
To fill out Form 1040-ES, sole proprietors need to estimate their income, deductions, credits, and tax liability for the year, and then make quarterly estimated tax payments.
The purpose of Form 1040-ES is to help sole proprietors make timely tax payments throughout the year to avoid penalties for underpayment of taxes.
Sole proprietors must report their estimated income, deductions, credits, and tax liability for the year on Form 1040-ES.
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