3rd Quarter Tax Estimates Monday, September 17th
With summer unofficially in the past, time to get back to business. Key on the list – Q3 estimated federal, state and/or local taxes.
Not all individuals are required to make quarterly payments. For example those with wages making up the majority of their income, the tax withheld should be sufficient. On the other hand, individuals who are self-employed or have a large amount of investment income could be subject to potential underpayment penalties if adequate quarterly estimated taxes are not paid. This year, the 2018 tax reform adds a new twist.
For more information or to schedule an individual review, please contact:
Joseph P. Greenfield, CPA