Comments on: Estimated taxes http://pcwrede.com/blog/estimated-taxes/ Patricia C. Wrede talks about writing Mon, 20 May 2013 17:27:43 +0000 hourly 1 http://wordpress.org/?v=3.4 By: Shannon http://pcwrede.com/blog/estimated-taxes/comment-page-1/#comment-9112 Shannon Tue, 19 Jun 2012 00:57:38 +0000 http://pcwrede.com/blog/?p=1652#comment-9112 There are soooo many ways to get in trouble with taxes. Job security for me, but not really fair to the rest of the world. :) "...you have to keep a close eye on your writing income and adjust the withholding at your day job if you don’t want to over- or under-pay, and this tends to be a nuisance and make employers unhappy about the extra paperwork after a while." I hadn't thought about this at all. I always figured that, when it mattered, I would just increase my withholdings at work, but yeah, that could get annoying for the payroll folks really fast. There are soooo many ways to get in trouble with taxes. Job security for me, but not really fair to the rest of the world. :)

“…you have to keep a close eye on your writing income and adjust the withholding at your day job if you don’t want to over- or under-pay, and this tends to be a nuisance and make employers unhappy about the extra paperwork after a while.”

I hadn’t thought about this at all. I always figured that, when it mattered, I would just increase my withholdings at work, but yeah, that could get annoying for the payroll folks really fast.

]]> By: LizV http://pcwrede.com/blog/estimated-taxes/comment-page-1/#comment-9022 LizV Wed, 13 Jun 2012 17:45:29 +0000 http://pcwrede.com/blog/?p=1652#comment-9022 Thanks for the reminder! Since my income varies wildly (ah, self-employment, I do love you so), the "how much do I owe this quarter" method is the only one that makes sense for me. The nice thing is, once you work out the formulas, all you need is a spreadsheet. (And data religiously entered into it, of course.) At least, it seems to work for me -- the IRS hasn't complained yet! Thanks for the reminder!

Since my income varies wildly (ah, self-employment, I do love you so), the “how much do I owe this quarter” method is the only one that makes sense for me. The nice thing is, once you work out the formulas, all you need is a spreadsheet. (And data religiously entered into it, of course.) At least, it seems to work for me — the IRS hasn’t complained yet!

]]> By: Tiana Smith http://pcwrede.com/blog/estimated-taxes/comment-page-1/#comment-9010 Tiana Smith Wed, 13 Jun 2012 15:11:01 +0000 http://pcwrede.com/blog/?p=1652#comment-9010 I own my own blog design shop, and as such, I have to do my own taxes. I tend to always err on the side of caution. I'd rather overpay, and get money back, than underpay and end up with a nasty surprise. I have a feeling I'll do the same thing with my writing when I get published. I own my own blog design shop, and as such, I have to do my own taxes. I tend to always err on the side of caution. I’d rather overpay, and get money back, than underpay and end up with a nasty surprise. I have a feeling I’ll do the same thing with my writing when I get published.

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