Safe Harbor Doesn't Mean What You Think (Do This Now) - Tax Planning for Contractors

🔗 Quarterly tax payments won't save you. Learn why growing contractors still get hit with a surprise tax bill. Book a call: https://calendly.com/d/dnf-rmq-q5g?ut... --- You made every quarterly payment. You paid in April, June, and September. So why does your CPA say you still owe $40,000? Because your payments were based on last year's numbers — and your business grew. Safe harbor keeps you out of a penalty. It doesn't mean your tax bill is paid. CHAPTERS: 00:00 - Introduction 01:07 - Safe harbor 01:30 - Example 03:03 - Two numbers worth checking 04:06 - Two questions to ask your CPA WHAT YOU NEED TO KNOW ✅ Compare profit, not just revenue, to the same time last year ⚠️ If profit is up 20-30% or more, your current payments may be too low ✅ Ask your CPA to run a projection off current-year numbers — profit, payroll, owner draw, equipment purchases, rest-of-year expectations ⚠️ A large tax bill you didn't plan for can hurt the business, even in a profitable year ✅ Ask: "Are my payments based on last year or what I'm actually making this year?" ✅ Ask: "How much cash should I set aside if the business keeps growing at this pace?" No guessing. Just pull your year-end profit. Compare it to last year. Ask your CPA the two questions above — then book a tax plan call before the cash is gone. I'm Samy Basta — CPA and fractional CFO for contractors and builders across California. If this hit close to home, subscribe for more real talk on contractor finances — drop a comment if you want me to break down your specific situation. #QuarterlyTaxes #SafeHarborTax #TaxProjection #ContractorTaxPlanning #EstimatedTaxPayments #ConstructionTaxPlanning #CaliforniaContractors #TaxPlanningForContractors #CashFlowManagement #GrowingBusinessTaxes #ContractorFinance #SmallBusinessTaxes #TaxStrategy #BuilderLife #CPAforContractors