Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (3) | Ignore Thread Prev | Next
Author: dawnmcd One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121105  
Subject: Quarterly payments Date: 4/7/2000 9:27 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
I make estimated quarterly payments, only since last year, and I'd like to have a couple questions answered:

1. I assume that when I make a payment in April, I am paying taxes on the income that I received in January, February and March, and when I make the June payment I'm paying taxes on my income for April and May, etc. If this is not correct, please set me straight.

2. Assuming the above is correct, I'm having trouble with the concept of simply breaking up the taxes into four equal payments. It is especially difficult to come up with three months' worth of taxes only two months after the April payment (why didn't they just make the payments evenly spaced every three months?). Would it be ok for me to "pro-rate" the payments as follows?
April - $1270 (covering Jan/Feb/Mar income);
June - $845 (covering Apr/May income);
September - $1270 (Jun/Jul/Aug);
January - $1700 (Sep/Oct/Nov/Dec).

Thank you.

First-year Fool
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (3) | 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.
Post of the Day:
TMFDeej's CAPS Blog

Activist Investors Unlocking Value at LSB Industries?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
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