The Odd Estimate

Just a quick reminder for taxpayers who make estimated payments that your payment is due next Friday on June 15th. (Yes, I know that we tend to call  these payments quarterlies but they aren't on a true quarterly schedule. No, I don't know why the payments are made after 5th and 8th months. That was set long before I was doing taxes.)

If you are self employed or have income from sources that don't do withholding, you might want to consider prepaying your tax and save yourself the cost of the underpayment of estimated tax penalty. Just remember, estimates don't have a logical schedule.