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Author: beckj Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121572  
Subject: estimated payments Date: 11/27/2003 7:24 AM
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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,
beckj
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