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Forum: Internet Gambling

04-07-2005, 02:46 AM

Replies: 13

Seriously, my last tax post (Re: Estimated tax payments)

Posted By balkii

Re: Seriously, my last tax post (Re: Estimated tax payments)

Anyway, I think I'm just going to send in a little over 25% of what I think I'll owe for the year every pay quarter. THe worst thing that happens would be I pay too much. If I end up overpaying I'll...

Forum: Internet Gambling

04-07-2005, 02:37 AM

Replies: 13

Seriously, my last tax post (Re: Estimated tax payments)

Posted By balkii

Re: Seriously, my last tax post (Re: Estimated tax payments)

regarding the late payment penalty,
what my CPA told me was:

dont calculate the penalty or pay it on your return. let them catch it, and pay up if they do. if this is your first year filing taxes...

Forum: Internet Gambling

04-06-2005, 10:52 PM

Replies: 13

Seriously, my last tax post (Re: Estimated tax payments)

Posted By balkii

Re: Seriously, my last tax post (Re: Estimated tax payments)

your estimated tax payments for 2005 are supposed to be 1/4 of your 2004 tax liability.

if you paid 4000 in tax last year each quartly est. payment should be at least 1k, regardless of how much...

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