Quarterly
“I received a massive underpayment penalty notice for my estimated taxes, is there a penalty waiver available for first-time small business owners?”
A large estimated tax underpayment notice can sometimes be reviewed for possible relief, and the outcome often depends on the reason the payments were short, whether the business is newly formed, and what income patterns or withholding were present during the year. First-time small business owners often have uneven cash flow, so the timing of income, startup expenses, and any prior-year tax history can matter a great deal. The notice itself, the tax year involved, and whether the amounts were calculated from current-year estimates or prior-year safe harbor figures are also common factors in how these cases are evaluated. A targeted review with a CPA can turn the uncertainty into a clear next step.
In your 60-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“My freelance income fluctuates wildly from month to month, how do I calculate estimated taxes using the annualized income installment method?”
“I just started a new side hustle in late November, do I have to make a quarterly payment in January for just two months of part-time work?”
“I am filing jointly with my spouse who has a W-2 job, do we make one combined quarterly estimated tax payment or do I file separate ones?”
“My business took a massive loss in the first quarter, do I need to submit a form proving I owe zero estimated taxes for that specific period?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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