Arianna is self-employed. Based on last year, her projected state and federal taxes for this year will be approximately $5500. Determine how much Arianna should prepay each quarter in order to meet her projected taxes by the end of the year.

Answer 1

In order to determine how much Arianna should prepay each quarter, we need to first divide the total projected tax amount of $5500 by 4 (for the 4 quarters in the year).

$5500 / 4 = $1375

Therefore, Arianna should prepay approximately $1375 each quarter in order to meet her projected taxes of $5500 by the end of the year.