Estimated tax is the method used to pay tax on income that is not subject to withholding (for example, earnings from self-employment, interest, dividends, rents,alimony, etc.). In addition, if you do not elect voluntary withholding, you should make estimated tax payments on other taxable income, such as unemployment compensation and the taxable part of your […]
The Confusion of the Federal Tax Filing Date
April 15th, April 18th, or April 19th? How can something as simple as an April 15th filing due date for individual tax returns and 1st quarter estimated tax payments be made complicated? Glad you asked, here is what you need to know. Explanation The ingredients. Washington D.C. Emancipation Day, Maine and Massachusetts Patriots Day, the […]
Estimated Taxes
The federal income tax is a pay-as-you-go tax. You must pay the tax as you earn or receive income during the year. There are two ways to pay as you go, either by employer withholding or estimated tax payments. Employer withholding: If you are an employee, your employer generally withholds income tax from your pay. […]
Wills & Trusts: Which is the best for your family
What did Prince and Howard Hughes have in common? Both of them were extremely talented people who died without wills or trusts in place. While they are high profile, wealthy examples, ANYONE with at least $75,000 in assets (a home, car, property, 401K) and/or is at least 18, should secure these documents to be sure […]
TPT returns and payments are due August 28th
TPT monthly and quarterly returns are due. Taxpayers can file now and schedule payments up until the deadline. The Arizona Department of Revenue (ADOR) reminds TPT (transaction privilege tax) filers that monthly and quarterly returns are due. Filing before the due date is highly encouraged in the event assistance is required. Avoid the worry and hassle […]