What are the guidelines for making estimated tax payments?
March 22, 2006
Date: Fri, 10 Mar 2006
From: Abe
When you exercise options during February, what are the guidelines for making estimated tax payments?
Answer
Date: Sat, 18 Mar 2006
Hello Abe,
In short, if last year’s income was less than $150,000, be sure last year’s tax is paid in. If last year’s income was $150,000 or more, pay in 110% of last year’s tax. I’ll have a more lengthy explanation in the next newsletter, or you can find it in last year’s April issue.
Good luck!
Mike Gray