Sunday, November 13, 2011

I had no taxable income in 2006 but may in 2007 Is estimate payment required?

There's no estimate payment required if you plan to have taxes withheld from your paychecks. If you are self employed, and will not be sending payments in as you pay yourself, then yes, you should caculate your taxes and send in quarterly payments. If you don't then you will be penalized later.

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