Posted May 2015
Taxes are a “Pay-as-you-go plan.”
For most of us, we follow the rule by having taxes withheld from our paychecks (not that we have a choice ).
And for some who are self-employed or have outside income, estimated tax payments need to be sent in to comply with the pay-as-you-go plan. There are many ways to calculate what has to be sent in to avoid underpayment penalties (for failure to send in enough to comply with the “plan”).
The second installment for 2015 is due on June 15, 2015.
Let me know if you need help determining how much should be withheld, or how much you should send in. Why risk a penalty, or pay in more than is needed?