Quarterly Taxes

If you make quarterly tax payments, you have 2 weeks before the second payment toward your 2008 tax liability is due.

Most Americans are on someone else's payroll and their taxes are withheld from each paycheck.

Many individuals are either self employed or have variable incomes from which taxes are not withheld. To get their tax $ to Uncle Sam, they make "quarterly tax payments" on April 15, June 15, September 15, and January 15 (of the following year). If these dates fall on a weekend, the taxpayer has until the following Monday to postmark their tax payments.

Most states follow the same dates in regards to their state income tax payments.

Many tax preparers can help determine the amount that should be made each quarter or set up their clients with payments that will avoid penalties come next April. Should your income or investment income vary significantly during the year, call your tax adviser and talk it over with him or her.

It seems we need to have a calendar and calculator to satisfy the tax man besides the $.

'til later