Paying Quarterly Income Taxes

Reggie Dunlop

Reggie Dunlop

2
Personally I think everyone should be required to pay their own federal income tax out of their pocket on a monthly basis (no payroll deductions). That way everyone would see exactly how much money they pay each year. When its taken out via payroll deduction, you don't really understand how much is going out. Once we all understand just how much of our money goes to Washington, then you'll see some changes made down there......
 
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VegasMike01

EOG Addicted
The General said:
You like the idea?
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I used to be against it, because you had to estimate what you were going to make, and then pay accordingly whether you made it or not. Even though you would get a refund if you estimated high, I would rather hold on to my money until the time has come. After paying over 27k in taxes last year I have changed my tune...
 
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andynbg

2
We have to pay on a monthly basis here in Germany. They take away the taxes straight from the monthly income. At the beginning of the next fiscal year you have to fill in some forms. After that you may get back some money or have to pay evem more but usually you get back some ammount.
 
bigbet1234

bigbet1234

EOG Dedicated
Re: Paying Quarterly Income Taxes

YEa, I pay quaterly, it sucks though. I alway underpay, but give them something. Why should they get the money up front and earn the interest while I can be making money off it.

My penalty last year was $190 for underpayement. That is a small price to pay for the money I make off what I don't send them a head of time.

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