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    6 Replies Latest reply on Apr 27, 2009 7:09 PM by ggoodard

    Income tax payments on a business plan

    Kjlawrence63 Adventurer

      Could anyone help me please?

      I'm having a few problems understanding certain parts of the financials on my business plan. I am working from an Electronic Financial Worksheet that I bought from

      At the beginning of the worksheet under "Personal Assumptions" it asks me "What percentage of each employee's salary or wages do you plan to set aside for payroll taxes?" I put in 20% although it says if you're not sure put in 15%

      It seems to work out the payroll taxes on the "Staffing Budget" but under the "Cash Flow" Income Tax Payments it says "Note that on your income statements, we've generated an estimate for income taxes. This line on the cash flow statement is where you should reflect the actual payments you intend to make on a regular basis (probably quarterly)

      Could anyone tell me how I can work this out please?

      Any help will be appreciated.

      Kind Regards,