|
Posted by Harlan Lunsford on June 24, 2008, 5:21 pm
Please log in for more thread options removeps-groups@yahoo.com wrote:
> wrote:
>> removeps-gro...@yahoo.com wrote:
>
>> For those who pay estimated taxes, this is a really good way to make the
>> first installment.
>> In fact I've a couple of clients who say each year "let it (overpayment)
>> ride!". One of these let her last year's overpayment suffice for all
>> four installments for 2008! Talk about convenience!
>
> But you lose lots of interest this way. Better to keep the money in a
> savings account, CD's, treasurys. With EFTPS, making estimated
> payments should be pretty easy. Ideally, people making estimated
> payments should make 5 of them for a tax year -- the usual 4 to pay
> 90% of the tax due, and a last one on April/15 to pay the remaining
> 10%.
>
That is exactly the way I think and act of course. But remember,
everybody in this world is not driven by money. And given the low
interest rates in money market funds today, it's not worth the hassle
to many people who cultivate peace of mind.
And we all have clients who are just plain forgetful.
ChEAr$,
Harlan Lunsford, EA n LA
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
| 
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap