Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: beckj Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 122097  
Subject: estimated payments Date: 11/27/2003 7:24 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0

Because I am a fan of Living Below Your Means, and every phone call to our accountant is charged 1/4 hour [$48.50] no matter how short it is, I thought it might be a good idea to ask Fools instead if they believe I've been correctly informed about paying estimated taxes.
We have received over $100,000 for selling some land this month, and owe cap gains taxes on it. The question is whether we need to pay those taxes before April 15th. We've been told that because there is no similar tax owed from last year's taxes, then it is assumed that we couldn't predict that we'd get this money this year, so we needn't pay estimated taxes on it in January but can leave it invested until April.
Can that be right?
Thank you for any enlightenment offered,
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Remembrance and Reflections
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.