Savvy or Surrender - Your Guide to Profit, Cash Flow, and Tax Savings
Running a business shouldn’t feel like a never-ending fight for cash. On Savvy or Surrender, host Steven Young cuts through the noise and shows real business owners how to take control of their numbers, keep more of their hard-earned money, and build a business that actually pays them back.
Each episode gives you practical strategies you can use right away — from fixing cash flow bottlenecks, to implementing Profit First, to unlocking tax savings most owners never hear about. No jargon. No fluff. Just clear guidance, real-talk coaching, and a little humor to keep things human.
Whether you’re a contractor, service pro, or business owner who’s tired of working hard with nothing to show for it, this is your go-to show for leveling up your money decisions and building a business that supports your life… not the other way around.
Choose to be Savvy — or surrender your profit. The choice is yours.
Savvy or Surrender - Your Guide to Profit, Cash Flow, and Tax Savings
Quarterly Tax Payments for Contractors- Avoid Penalties & Stress: Episode 14
Title: Quarterly Tax Payments for Contractors- Avoid Penalties & Stress: Episode 14
❗Don’t forget to download the episode — that way you never miss the game-changing cash flow tips that keep your business running strong.
In this episode of The Savvy or Surrender Podcast, host Steven Young demystifies the process of paying estimated taxes for business owners and contractors. He covers who needs to pay quarterly taxes, how to calculate your payments, and the importance of setting aside money regularly—highlighting the Profit First method. Steven also explains the IRS Safe Harbor Rule, common mistakes to avoid, and what to do if you fall behind. The episode wraps up with practical advice for S Corp owners, tips for avoiding penalties, and a call to action for listeners to take control of their tax planning.
00:00 – Introduction: Why estimated taxes matter for business owners
00:22 – Host introduction and episode overview
00:50 – Call to action: Subscribe, like, and review
01:10 – What are estimated taxes? Who needs to pay them?
02:09 – Federal and state estimated tax basics
03:01 – Who is required to pay quarterly taxes?
04:13 – Common mistakes: Forgetting to set aside money for taxes
05:01 – The IRS Safe Harbor Rule explained
06:34 – Calculating your estimated tax payments
08:21 – Mistake #1: Waiting until tax time
09:10 – Penalties and how to get them abated
10:49 – Mistake #2: Not setting money aside weekly (Profit First method)
11:53 – S Corp owners: Payroll and estimated taxes
13:33 – How and when to pay estimated taxes (quarterly deadlines)
15:21 – What to do if you’re behind on payments
16:09 – Penalties, interest, and the importance of filing early
17:13 – Why the IRS may not contact you right away
18:13 – States vs. IRS: Who acts faster?
18:33 – Final thoughts: Having a plan and using Profit First
19:13 – Call to action: Schedule a free discovery call and holiday wishes
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