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How to Pay Your Estimated Taxes

Posted in Tax News on September 15, 2013

  Many taxpayers are employees and have their income taxes withheld from their paycheck.  Every April 15th they need to settle up with Uncle Sam and their state tax department.   Other taxpayers may not be employees or have taxes…

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3 Reasons I Encouraged My Son to Open a Roth IRA

Posted in Tax News on April 28, 2013

I recently suggested to my son that he open a Roth IRA.  Here are the 3 reasons why.    1) He’s Young The Roth IRA offers a huge advantage over a regular IRA. This is particularly so for younger people. …

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4 Easy Steps to File Your Income Tax Extension

Posted in Tax News on April 7, 2013

Your 2012 income tax return is due on April 15, 2013. What if you can’t get it done on time? Here are 4 easy steps to file your income tax extension.     1) Prepare a Tax Projection

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Why The New Medicare Tax May Cost You More Money

Posted in Tax News on June 26, 2012

Current Medicare Tax Currently taxpayers pay 1.45% Medicare Tax on their earned income. This is from a W-2 for employees and net-income from self-employed individuals. The employee pays this amount and the employer matches it, therefore they remit 2.9% to…

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How to Pay Estimated Income Taxes and Avoid IRS Penalties

Posted in Tax News on October 27, 2011

Taxpayers must pay their taxes “as they go.”  For many taxpayers, their income taxes are withheld from their paychecks.  For taxpayers that don’t have any withholding, they will need to make estimated tax payments.

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