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First Quarter Estimated Taxes

First Quarter Estimated Taxes

  • This year, April 15th falls on a Saturday which means normally it would roll to April 17th and I believe that April 17th is also a holiday in DC so some people even have until April 18th to file.
  • Quarterly estimates are really meant for people that either don’t have enough withholding, don’t have any withholding from a W-2 job or some other version of withholding like on a pension or something or you’ve made some sort of special transaction or special income.
  • If you’ve done any special transactions, make sure that you’re reaching out to your CPA or tax preparer to gain that quarterly estimate form.

Hey, guys. We are getting super close. April 17th this year. I’m so excited. That actually brings up a good fact. Normally the deadline falls on April 15th every year for 1040 filers. This year, April 15th falls on a Saturday which means normally it would roll to April 17th and I believe that April 17th is also a holiday in DC so some people even have until April 18th to file. We got three extra days this year. How cool is that? Well, kind of cool. It is still taxes but you guys know I love it

Today, what I want to talk about is that if you owe quarterly taxes, those things are due. They’re coming up. They’re also due the same day as the federal tax return so make sure that you get your payments in. Quarterly estimates are really meant for people that either don’t have enough withholding, don’t have any withholding from a W-2 job or some other version of withholding like on a pension or something or you’ve made some sort of special transaction or special income. For example, you’ve sold a property in the first quarter of 2017. The taxes on that are technically due with your first quarter estimate. If you’ve done any special transactions, make sure that you’re reaching out to your CPA or tax preparer to gain that quarterly estimate form. It’s a specialty voucher. It does not go along with your tax return. It’s a completely separate thing.

If your CPA can’t help you or you need help, please feel free to reach out to us, LinkedIn, Facebook, Twitter, Skype, whatever. You guys know how to find me and we’d be happy to help in any way we can. I hope you guys are having a great day. We’ll talk to you later.

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