Posts tagged as:

estimated payments

Making Sense of the Making Work Pay Credit

2 February 2010

So now that you’ve calculated the Making Work Pay Credit, what does it all mean? A credit is a dollar for dollar reduction in your tax bill. So if you owed $1000 and the credit was $400, your tax bill is now $600. The tax rates didn’t change. The tax due didn’t change. The credit [...]

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Ask the taxgirl: Estimated Payments (Forms and Payments)

23 September 2009

Taxpayer asks: Tax Girl: Nice blog, I came across your site researching my situation. Last year I got back a refund (because my investments tanked and I had a capital loss) so this year I did not send in any estimated tax payments. I meet with my financial advisor yesterday he said my portfolio is [...]

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Ask the taxgirl: Estimated Payments

18 July 2009

Taxpayer asks: I’m a recent college grad working 2 full-time jobs and doing some free-lance work on the side. I have recently been asked to provide a w-9 for a $300.00 invoice I sent to a client, who happens to be my old boss. I was wondering, how much money should I withhold to pay [...]

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Ask the taxgirl: SMLLC and Estimated Payments

8 April 2009

Taxpayer asks: I started a single member LLC this year, and need to make estimated tax payments. When I went onto the IRS site to make payments, it asked for either my EIN or my SSN for the payments. Am I making payments on both? Taxgirl says: You’re only making payments for the LLC once. [...]

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Ask the taxgirl: One time gains

9 June 2008

Taxpayer asks: This is my situation. In 2007, I sold a bunch of stock my grandpa gave me, and had a gain of roughly $8,000. I had my regular income at around $50,000, and $6,583 was withheld. I did not make any estimated tax payments throughout the year. I owed $1,271 in taxes. My question [...]

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