What are Estimated Taxes? Estimated tax is the method used to pay tax on income that is not subject to withholding. This includes income from self-employment, interest, dividends, alimony, rent, gains from the sale of assets, prizes and awards. You also
Tag: withholding
Adjusting Your Income Tax Withholdings to Receive More Money During the Year
Change Withholding Check your year-to-date withholding and consider changing the taxes withheld if you are expecting a large refund. This is especially important if you are claiming the earned income tax credit, or EITC, or the additional child tax credit. Why?
Tax Saving Strategies
Using these smart tax savings strategies will help you get off to a good start and may help you save more money. Check Your W-4 This year, you may have started a new job, new marital status or family member.
4th Quarter 2015 Estimated Taxes Due
Your last 2015 quarterly estimated tax payment is due by January 15, 2016. Important: If you plan to take this payment as a deduction on your 2015 federal income tax return, you must make the payment by December 31, 2015.
Third Quarter Estimated Tax Payment Due September 15
The September 15th deadline for 2015 third quarter estimated tax payments is approaching. Estimated tax is the method used to pay tax on income that is not subject to withholding. This includes income from self-employment, interest, dividends, alimony, rent, gains from the
The Truth About a Big Tax Refund
You’ve filed taxes and are getting a big tax refund. Everyone gets excited about that BIG refund. Why is this? Is this really good? Well, not really unless you are getting refundable tax credits (EIC, AOTC, Additional Child Tax Credit, etc) to get
Federal Tax Extensions and Penalties
How do Tax Extensions Work? Filing for an automatic 6 month extension to file your taxes is easy. Simply fill out Tax Form 4868, Application for Automatic Extension of Time To File U.S. Income Tax Return (pdf) by the tax
Additional Medicare Tax Information
Additional Medicare Tax – What You Need to Know Some taxpayers may be liable for an Additional Medicare Tax if your income exceeds certain limits. Here are six things that you should know about this tax:
4th Quarter 2014 Estimated Taxes Due
If you are self-employed or have other fourth-quarter income that requires you to pay quarterly estimated taxes, make sure your 4th quarter 2014 estimated tax payment is postmarked by January 15, 2015. What are the filing dates for federal quarterly estimated
Avoid Surprises at Tax-Time
Even though only a few months remain in 2014, you still have time to act so you aren’t surprised at tax-time next year. You should take steps now to avoid owing more taxes or getting a larger refund than you