Monthly payments on taxes
- Thread starter cashclay
- Start date
Not sure about monthly, but quarterly payments may be an option?
https://www.irs.gov/pub/irs-pdf/f1040es.pdf
P.S. I just edited the answer so the verbiage was not so hard to understand.
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Read the form and figure out if it is right for you?
You could always ask a CPA, rather than an anonymous BB on the Internet you know. Just look in the Yellow Pages for a CPA near you, if you even know what the Yellow Pages are.
Jesus CHRIST! Try to offer a sensible answer to a dumbfuk question, and you get dumbfuk responses.
Reading comprehension is fundamental.
And trying to understand issues as complicated as taxes is not an easy undertaking . Yes all of that information is clearly in a google search and something very easy to do . However , the tax codes of any country , esp. the United States, is often extremely difficult to understand . Thats one of the main reasons forums like these exists. To help better understand a difficult scenario in the trading world. Clearly youre not understanding that aspect because you believe you are much smarter than the rest.
Why the hell are you sending me that PDF? If I could read and fully comprehend the IRS tax code and laws what use would it be for me to ask?
Reading comprehension is fundamental and so social . Jesus christ
Why the hell are you sending me that PDF? If I could read and fully comprehend the IRS tax code and laws what use would it be for me to ask?
Reading comprehension is fundamental and so social . Jesus christ
It's the form you would use to pay an estimated tax. The instructions on how to fill that form out are included. Just take that printout to your local CPA, ask him if you can pay capital gains on a quarterly basis with that form, and if you can then split it up into monthly payments, and you'll be right as rain! Yer not going to get a correct answer here, because nobody here knows your entire taxable situation!
All yer gonna' get are pointers in a direction!
Are you thinking of paying taxes on the amount you owe after annual filing as monthly payments or paying monthly during the year ahead of filing?
If that's the first one, in Canada, we get interest occur on the amount we owe, something like 1% per month. So if you simply break payments down into 12 months and are ready to pay interest accordingly that should work. I don't know if that is same in US, sometimes those two are pretty similar.
I'm in the U.S. I pay every year on January 15, (cap. gains + DIVs + interest).
I believe the rule is you have to prepay on Jan 15, 90% of what you estimate your final tax bill for the year. 1040 EST (Estimate)
I have already filed mine for 2021. My state already deposited their check, FEDs, not yet.
I always print off the cancelled checks and include it with my final 1040.
There is a short formula to determine who has to file the 1040 EST.
Penalties if you should, but you don't.
I have a CPA prepare all my taxes.
***
I have read the the IRS has huge numbers of filers who are in arrears on cap gains.
Seems these are filers made some gains, but then quickly lost them.
That's probably the logic behind the 1040 EST filed on January 15.
Hope that helps.
I believe the rule is you have to prepay on Jan 15, 90% of what you estimate your final tax bill for the year. 1040 EST (Estimate)
I have already filed mine for 2021. My state already deposited their check, FEDs, not yet.
I always print off the cancelled checks and include it with my final 1040.
There is a short formula to determine who has to file the 1040 EST.
Penalties if you should, but you don't.
I have a CPA prepare all my taxes.
***
I have read the the IRS has huge numbers of filers who are in arrears on cap gains.
Seems these are filers made some gains, but then quickly lost them.
That's probably the logic behind the 1040 EST filed on January 15.
Hope that helps.
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