Posts Tagged ‘estimated tax’

What are Estimated Taxes and do I have to pay them?

  • April 6th, 2023
  • David Greene
  • Comments Off on What are Estimated Taxes and do I have to pay them?

Estimated taxes are taxes one has to pay in advance of the tax being due.  They are required for people who earn income from which no payroll taxes are withheld.  A “W-2” employee is one who gets a regular payroll…

I owed more than $3,000 additional tax on my return this year and didn’t have the money to pay. How can I prevent that from happening next year?

  • September 25th, 2019
  • David Greene
  • Comments Off on I owed more than $3,000 additional tax on my return this year and didn’t have the money to pay. How can I prevent that from happening next year?

This is a good question, but I wish you had asked that question closer to April 15.  If you owe more than $1,000 in additional tax on April 15, then, according to the IRS rules, you must make Estimated Tax…

When does one have to pay Estimated Taxes?

  • July 25th, 2019
  • David Greene
  • Comments Off on When does one have to pay Estimated Taxes?

The answer depends on how much you owe on your current year’s tax return.  However, here are five general tips to help you decide if you should be paying Estimated Taxes. (1) If you have income from self-employment, alimony or…

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