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Paying Unpaid Taxes : Paying Your Estimated Taxes

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Beriso Tusse- Paying Estimated Taxes

Paying Your Estimated Taxes

Beriso Tusse and his associated at BTL & Company, P C Tax & Accounting, help many tax payers in Oregon to make estimated yearly payments. Knowing when to pay and how much to pay can be confusing for the average person. Finding the help of a tax professional or accountant will see that you are paying the government exactly what you need to, and nothing more. An expert Tax Preparer knows how to estimate your quarterly tax payments efficiently and effectively.

Who Should Pre Pay Estimated Taxes?
Tax payers who work for an employer are generally exempt from the need to pay estimated taxes quarterly. This is because your employer takes the necessary measures to withhold certain earnings from your paycheck during the year, which are applied to your overall taxable income. However, for persons who are self employed, or receive income from other sources, quarterly payments are required. Certain forms of income, such as dividends, alimony, and interest income, are not subject to withholding. Other examples include gains from stock or other asset sales earnings from a business. If you fall into one or more of these categories, paying estimated taxes throughout the year is not an option, but a requirement.

If you are a tax payer who anticipates owing the federal government more than $1,000 in taxes for a given year, then you will be forced to make quarterly payments. There are other rules regarding your adjusted gross
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