Tax Info -- My online articles about preparing and paying taxes
Death and Taxes... We really can't avoid either one
These online articles are about a couple of things we really can't avoid: mostly taxes and one article about death. The tax articles will help you get a better feel for the following tax-related issues:
- Preparing taxes
- Paying taxes
- Dealing with taxes as a self-employed person
- Tax due dates
Oh boy, taxes. They're something we'd like to avoid but they're a necessary evil. But, sometimes we'd like to just say: "Taxes, go away."
Photo Source: Peggy Hazelwood
2014 Due Dates for Quarterly Taxes
If you're like me and are self-employed, you pay estimated quarterly taxes. It's always nice to have a reminder of when those quarterly taxes are due. Here are the 2014 quarterly tax due dates:
- April 15, 2014
- June 16, 2014
- September 16, 2013
- January 15, 2015
Be Sure to Pay Uncle Sam
Articles About Taxes
Read up on taxes in the U.S. and related money articles.
- How to Write Off Business Expenses on Taxes
Not sure what business expenses you can write off on taxes? Read on.
- How to Figure Estimated Quarterly Taxes
Be timely. Figure your estimated quarterly taxes to keep your nose clean and to avoid late payment fees.
- Tax Day in United States
Many United States residents mark Tax Day as the deadline to file their income tax details to the Internal Revenue Service (IRS). The date is usually on or around April 15. However, this deadline may be extended to accommodate holidays or extreme wea
I used to always use a CPA to prepare my tax returns, but the past few years I've done it myself using Turbo Tax. It's actually not that bad and this stuff really gives me a headache!
Last year I used TaxAct, which is free for federal filing. Then I had to pay less than $20 to electronically file my state taxes.
Hints for Paying Quarterly Taxes
Keep your nose clean and pay taxes on time
If you're self-employed like me, and earn a certain amount of money (I'm not sure what the amount is off the top of my head), you should pay quarterly taxes. This tax rule or guideline is in place so the federal and state government gets their money throughout the year rather than a lump sum at the end of the year.
Likewise, I think it's a good idea to pay quarterly taxes, especially if you're not a saver, so you don't have to come up with a large lump sum at the end of the year. I'm a saver so I wouldn't have a problem paying the larger lump sum, but I like the idea of paying my income taxes as I go.
To make paying quarterly taxes easy, here are a few tactics I use to ensure I pay on the due dates, because I mail my taxes on the due date, not before, usually. I'm not perfect after all! But as long as the envelope is postmarked on the due date, it's all good.
- Write a note on your calendar: I jot down "Qtrly Taxes Due" on the actual due date of a calendar I have hanging beside my desk. This lets me know when I need to pay them. See the due 2011 dates in the paragraph up yonder.
- Keep a file folder handy: I have a file folder with the quarterly tax forms for federal and state at my desk. I keep business-size envelopes in there so all I have to do is get my checkbook, a calculator, and my income and expenses records when it's time to pay quarterly estimated taxes.
- Jot down how much to pay: Figure out the estimated percentage according to the tax forms (17 percent federal, 8 percent state, whatever it is) for both federal and state. Jot those numbers down and pay that percentage each quarter. These are estimated taxes and you can make up the difference either way at the end of the year.