Business Type Of course, the rules for estimated tax payments vary depending on business type. At your previous job, did you ever wonder why your employer consistently held a portion of your paycheck for taxes and how that amount was determined? Estimated tax payments should be paid by small businesses throughout the year, and it is the responsibility of the owner to make these payments to the IRS and the state. If you recently left your previous job to start your own business, then you will have to get used to the change. Making estimated tax payments throughout the year is required and should be handled in a way that’s not particularly burdensome. As a small business owner, you follow a different set of tax rules than your employees.
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