If you keep financial books for your company, you should be able to estimate your total taxes based on your taxable income multiplied by your current tax rate. Many of our customers simply use their tax rate from last year. Don’t forget to subtract any estimated tax payments that you made during the year from your taxes due.
State regulations on tax extensions vary from state to state. Please visit our State Tax Extensions center for detailed instructions on each state.
Sole proprietors generally report their business activities on their personal tax return (Schedule C of Form 1040). Therefore, you should only submit a personal tax extension (Form 4868), which will extend the filing deadline for your business as well as your personal income tax return.