Message Font: Serif | Sans-Serif
No. of Recommendations: 1
I will be receiving a net profits distribution, which will be sizable relative to my income from my day job. This distribution was a complete surprise -- it occurred on Dec 22 -- so I haven't paid any estimated taxes this year. Is there anything I need to do between now and April 15th to avoid any tax penalties?

That depends. Is your 2010 withholding at least as much as your 2009 total tax? If so, no.

Rule Your Retirement Home Fool
Print the post  


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.
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.
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.