For those of you who freelance or otherwise receive untaxed income throughout the year, your 4th quarter estimated taxes are due next week! Taxes are due on January 15th, which is next Thursday. 100% of my income is 1099 income, so I have to pay a lot of taxes every three months and no longer have the luxury of having extra money taken out of a “regular” paycheck to cover some of the difference. So if you are like me and have to pay estimated quarterly taxes, don’t miss your last payment for 2008…until you have to file your return, that is! There are a few ways to pay your taxes, and here are 2 of the most popular:
It’s that time of year again – time to start thinking about the dreaded tax season. While I have someone do my taxes because of my self-employment income and deductions, many people choose to their own taxes. It all can be confusing, but some of these general tips can at least point you in the right direction come January when you start preparing!
The three forms that you can choose from for filing federal income tax returns are Form 1040EZ, Form 1040A and Form 1040. Your goal is to use the easiest and quickest form that you can. You may qualify to use the easiest one, Form 1040EZ, if you:
If you are like me and you need to file estimated taxes all year due to your work situation, today is your third tax day of the year. Just a friendly reminder! Need to make that payment? Luckily there are a few ways to do so:
EFTPS.gov – The government’s official online pay service
Official Payments Corporation – This is who I use, so I can get points on my credit card – the bonus outweighs the fee.
And that really irritates me. Here are the rest of us, from the the family of four having trouble paying for college education to your neighbor just trying to make ends meet, who have to pick up the slack. Is it any wonder that when you combine the tax breaks for the richest Americans with the lack of income tax from corporations, that our country’s infrastructure is headed down the tubes?
Nearly two-thirds of U.S. companies and 68% of foreign corporations do not pay federal income taxes, according to a congressional report released Tuesday.