Hi there!
So, you’d like to work together, but I’m already booked? I got you! There’s just a few steps below… ♡ Jenny
P.S. It’ll be worth the wait! We’ll get everything done in a way where you feel great.
How to file an extension … so we can work Together
Step 1 - File an extension
☞ Scroll down for more info
Step 2 - Book with me.
☞ You can choose a One-Time Consult, or a Custom Package
☞ Use PROMO CODE to get 10% off, good in May or June: BREATHEEASY10
Step 3 - Breathe easy
How to file an extension
This is for sole proprietors, and single-member LLCs. (If you file as an S-corp, things will be different for you.)
The basics
You let the IRS know that you need an extension.
Note, this is to extend filing your personal taxes, using the 1040 form. See important note below*.
If possible, you send a payment for some/part/all of your tax bill.
You have 6 months to file, your new deadline is Oct 15
You might pay interest on any taxes owed…, but you will avoid additional penalties!
Three options
Adapted slightly from the IRS.gov site:
1 / Pay online and check the box
Pay what you owe using an online payment option and check the box that you are paying as part of filing for an extension. You don’t have to file a separate extension form and you’ll receive a confirmation number of your extension for your records.
2 / Use Free File
Use IRS Free File to electronically request an automatic tax-filing extension.
3 / Request an extension by mail
File Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. You can file by mail, online with an IRS e-filing partner or through a tax professional.
Estimate how much tax you owe for the year on the extension form: Subtract the taxes you already paid for the filing year.
Hints and notes
This is offered for education only, this is NOT tax advice. :)
*IMPORTANT / Personal taxes
If you are asked … is this PERSONAL or BUSINESS taxes, choose PERSONAL taxes.
Our businesses do not pay taxes themselves. We pay personal taxes, based on our profit/income from the business.
How-To Videos
There are lots of great examples on youtube. Here’s one. (He talks about a w-2 and tax withholdings… imagine he’s referring to your profit and estimated quarterly tax payments.) Here’s another.
Feel intimidating?
Ask around with your friends, colleagues. Perhaps someone has gone through this process and can walk you through it!
Ask a buddy to sit with you and be a second set of eyes.
Not sure what to pay? Or how to estimate numbers for what you owe? Ideas…
Look at last year’s tax return to give you a clue.
Straight up guess
Estimate your profit for 2024, multiply by 20% - 25% (This is VERY ballpark.)
I’m so excited to work with you this spring or summer!
xo Jenny