by Leif Jensen | Oct 16, 2024 | Taxes |
The primary purpose of estimated taxes is to provide the government with a steady stream of revenue throughout the year. This system helps taxpayers avoid large bills at the end of the year by requiring them to contribute as they earn income. By making regular...
by Leif Jensen | Oct 14, 2024 | Taxes |
To calculate estimated taxes, individuals must estimate their total tax liability for the year, including self-employment tax and individual income tax. They then divide this amount by four to determine the quarterly payment amounts. The IRS provides Form 1040-ES for...
by Leif Jensen | Oct 9, 2024 | Taxes |
The U.S. tax system operates on a pay-as-you-earn basis, requiring taxes to be paid as income is received. For employees, employers typically manage this through withholding. However, for those without automatic withholding, such as the self-employed, estimated tax...
by Leif Jensen | Oct 7, 2024 | General |
Generative AI utilizes large, versatile foundation models to create novel content such as text, images, music, audio, and videos. These powerful AI systems can multitask and perform a variety of out-of-the-box functions, including summarization, question answering,...
by Leif Jensen | Oct 2, 2024 | Rant |
During the Dark Ages, most people’s access to goods and services was confined to a 20-mile radius around their birthplace. Few individuals ventured beyond this limited geographic area over the course of their entire lives. Even the wealthy, who may not have...
