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What is global meaning?
Quarterly Estimated Payments
Tax payments made each quarter by self-employed individuals and others who do not have taxes withheld from their income.
Estimated Payment
Periodic payments made towards expected tax liability before the due date to avoid penalties.
Subchapter S Corporation
A form of corporation that meets specific Internal Revenue Code requirements, offering the benefits of incorporated status while being taxed as a pass-through entity, avoiding double taxation.
Ordinary Loss
A loss incurred in the normal operation of a business that can be used to offset other types of income for tax purposes.
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