Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (19) | Ignore Thread Prev | Next
Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121572  
Subject: Re: Est taxes - one pmt instead of quarterly? Date: 3/22/2013 8:06 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 16
My fiance always has to pay quarterly for estimated taxes.

He's wondering if instead of paying quarterly he can just pay it all in one payment up front because of the hassle-factor of remembering and having to make the separate payments.

I'm assuming you should be able do this, but is there any info on exactly what you do - do you just pay the full amount on the first quarterly payment date and then just not do anything else until you file your taxes?


That's all he needs to do.

Everything following is unsolicited advice from Phil's "Tips for a Successful Marriage." Feel free to move on without reading.

I just finished my 2012 taxes and the scheduling of my 2013 ES payments. With interest rates what they are, it probably doesn't earn me $10, but I'm not forking over a dime before I have to. It didn't take me 5 minutes to set up the payments through www.eftps.gov and put them in my budget spreadsheet so I remember to have the money in my checking account when the EFT happens. We're not talking rocket science.

If this is a "ring and a date" fiancé (as opposed to a "we can't think of anything else to call each other after all these years" fiancé) and you plan to merge your finances after marriage, make sure you're the one who's in charge. If he finds four estimated tax payments daunting it doesn't bode well.

Phil
Rule Your Retirement Home Fool
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (19) | Ignore Thread Prev | Next

Announcements

Disclaimer:
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

Economic Implications of Cuba
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 "#1 Media Company to Work For" (BusinessInsider 2011)! 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.
Advertisement