Thread: Tax time coming
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  #15  
Old 01-12-2002, 07:32 PM
GroundKprs GroundKprs is offline
LawnSite Bronze Member
 
Join Date: Dec 1999
Location: South Bend, IN
Posts: 1,969
A little IRS trick

You must make quarterly payments of estimated tax for federal and most state income based taxes. These payments are due every year on Apr 15, Jun 15, Sep 15, and Jan 15.

This trick concerns the Jan 15 payment of federal taxes only. For most of us, especially those up north, this payment can be almost half of your annual total, unless you have a busy snow service. You can skip the Jan. 15 payment, as long as you file your taxes and pay all monies due by Jan. 31. I use this every year. Means a big chunk of cash gets interest for two more weeks. The biggest advantage to me though is to get all that paperwork done right away, and be free of it when the new season is ready to start.
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Jim
North central Indiana
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