Tips on Making Estimated Tax Payments

Tips on Making Estimated Tax Payments

If you don’t have taxes withheld from your pay, or you don’t have enough tax withheld and you owed money with your 1040, then you may need to make estimated tax payments. If you’re self-employed you normally have to pay your taxes this way. Likewise, retirees with the majority of income represented by dividends and interest have to make estimated payments.

Capital Gains And Losses

When you sell a ‘capital asset’, the sale usually results in a capital gain or loss. A capital asset includes most property you own and use for personal or investment purposes. Here are 10 facts on capital gains and losses: