[pianotech] Tax Question maybe OT

[Duaine Hechler]

Last year still does not help because last year was a pretty good
refund. This year, so far, in the black - and - have no clue about the
estimated tax.

David Love wrote:
> You need to pay estimated taxes to the extent that you will owe taxes at the end of the year  in order to avoid an under payment penalty. The previous year serves only as a guide. If your income changes so will your estimated tax requirement.
> David Love, www.davidlovepianos.com
>
> -----Original Message-----
> From: Duaine Hechler <dahechler at att.net>
> Date: Sun, 30 May 2010 21:21:54 
> To: <pianotech at ptg.org>
> Subject: Re: [pianotech] Tax Question maybe OT
>
> Matthew,
>
> I have a full time spouse, so do I need to pay estimated quarterly tax ?
> (Haven't yet - but, actually, making money this year)
>
> Matthew Todd wrote:
>   
>> One bit of info I got from the IRS website that I thought was interesting is this:
>>
>> If you didn't owe any taxes at the end of the year, but instead were given a refund, then you do not have to make estimated quarterly tax payments the next year.  If you did owe, then yes, you should make the quarterly payments, so you don't trigger an audit.
>>
>> Matthew
>>     
>
>   


-- 
Duaine Hechler
Piano, Player Piano, Pump Organ
Tuning, Servicing & Rebuilding
Reed Organ Society Member
Florissant, MO 63034
(314) 838-5587
dahechler at att.net
www.hechlerpianoandorgan.com
--
Home & Business user of Linux - 10 years