I pay estimated quarterly taxes. I also always make sure and pay the fourth quarter taxes before Jan.15 of each year. I never have had an issue.
The way my tax guy explained it to me is that IF you have 90% of the owed taxes paid before the Jan. 15th dead line you good for the next year. If you under pay then even if you pay the estimated quarterly tax the next year you have to file before the March 1st dead line.
I got tired of having to file amended returns because of late arriving documents. I just received an interest statement last week. If I had filed earlier I would have missed it.
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Today's Featured Article - Farming Never Left My Blood - by Stan Gordon. I was born in 1947 youngest of ten of a working farm. Our farm was located in Saskatchewan near Saskatoon. We had a mixed farm consisting of grain and dairy all done with old machinery and by hand. My dad had a tractor, a Farmall A which was used mostly to run the thrashing machine, a seed drill and for plowing. I remember locals used to help each other and threshing was done from daylight to after dark, one farm to another until all farms were done.
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