Problema Solution
Scott Stewart is the self-employed owner of Stewart Software. His estimated annual earnings are $48,000.00 and he expects to pay 18% of this amount in income tax. What will be his quarterly estimated tax payment for the second quarter?
Answer provided by our tutors
18% of $48,000 is:
.18(48000)=$8640
Divided into quarterly payments, this will be:
1/4(8640)=$2160