Determining Estimated Tax Payments

Week of January 05, 2009

If you're an employee, your employer withholds taxes from every paycheck and sends the money to the IRS and probably to your state government as well. This way you pay your income taxes as you go. And, if you're like most wage earners, you get a nice refund at tax time. But if you are self employed, or if you have income other than your salary, you may need to pay estimated taxes each quarter to square your tax bill with Uncle Sam. Get more information.