Currently, we set aside 35% of all profits. I was also wondering if anyone out there is set up as an S-Corp and what the benefits are vs. a LLC. Thanks.
Take your income from last year and divide by 4. That gives a good idea and if you making more money just take the 35% of that and add it.
That really depends on what kind of business and the amount of liability involved. Thats a tough question.
From things I have read and heard, LLC may be a better choice for a small business. I am neither so I can't really give you a definate, qualified response. As long as you cover last years liabilty to avoid penalities whatever you pay in in estimated taxes is fine. Please note I said pay in, not set aside.