Check and let us know if this is payroll or self employment tax because this doesn’t smell right. It’s not a profit until you take it, before then it’s just a surplus in your business bank account.
It’s quite easy to avoid. When times are good, keep upgrading your capital equipment. When times are lean, keep depreciating.
We did. ADP does our payroll. We thought it should be up to them to file it, since they SEIZE our hard earned monies.
They will be handling it. They also confirmed we had no choice in this matter.
Not so nice.