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SENATE . . . . . . . . . . . . . . No. 2368 The Commonwealth of Massachusetts ___In the One Hundred and Ninetieth General Court (20172018) ___SENATE, Thursday, March 22, 2018 The committee on Ways
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Finance estimates refer to the projected figures or calculations regarding financial performance, including income, expenses, and taxes, often used for planning and decision-making.
Individuals or businesses that expect to owe a certain amount of tax for the year are required to file finance estimates, including self-employed individuals and corporations.
To fill out finance estimates, you must calculate your expected income and expenses for the year, determine the estimated tax liability, and complete the required forms based on your specific tax situation.
The purpose of finance estimates is to ensure that taxpayers pay their tax liability throughout the year, avoiding a large sum owed at tax time and helping to manage cash flow.
Finance estimates must report expected income, deductions, tax credits, and the estimated amount of tax owed for the year.
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