Tuesday, May 26, 2009

Local Taxes

Many states divide real estate taxes into two or three installments. Indiana's payments are due May 15 and November 15. Illinois' payments are due June 1 and September 1.

I've always found Illinois a challenge as we usually have vacations during the summer and need to plan for those costs plus making our real estate tax payments timely.

As I am thinking of this, just a reminder that if you make estimates to the Federal government toward your year's income tax liability, another 1/4 of that amount is due June 15.

Federal estimates are due on or before April 15, June 15, September 15, and January 15. The only variance is if the due date falls on a weekend. Then Uncle Sam gives us until that Monday. The payment does not have to be received by those dates but must be postmarked on or before those dates.

Taxes - never forget to budget for them.

'til later

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