RBS Taxes Sucks, IMHO - Page 2

Nightwish · #11 03-31-2005, 11:06 PM

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Thread hijack:

I need to file quarterly taxes this April, but I only used the Turbo Tax right below Premier. Should I just use the Tax Liability / 4 method and then get Premier for next tax year or what should I do? I assume Turbo Tax for this tax year isn't available yet.

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You should be able to do this if you think your income will be the same this year as last year. Frankly, I'm just going to figure out my gross profit for the first 3 months, figure out my tax rate, and pay that.

Shoe · #12 03-31-2005, 11:16 PM

Another quarterly tax question -- do state taxes need to paid quarterly as well or is that a lump sum at the end of the year?

CountDuckula · #13 03-31-2005, 11:48 PM

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Another quarterly tax question -- do state taxes need to paid quarterly as well or is that a lump sum at the end of the year?

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Well, I can't speak for every state, but I know Massachusetts wants quarterly payments for non-withholding income. I suspect most, if not all, states are the same.

-Mike