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I played this game once...... Posted by MI-Roger [Email]  (#882) [Profile/Gallery]
(more from MI-Roger) on Thu, 13 Apr 2006 17:48:23
In Reply to: quartery tax installments on stockmarket gains ???, Dean, Thu, 13 Apr 2006 17:20:42 Members do not see ads below this line. - Help Keep This Site Online - Signup |
and the exact situation you described happened. I deliberately underpaid the first quarterly installment in anticipation of possible weaker yields later in the year eventhough I made substantial gains in that quarter. Quarters #2 and #3 saw little or no gain, and I filed the quarterly statements showing zero owed. Quarter #4 was a bust also and I didn't even bother to file that quarterly statement (I am pretty sure it was legal then, and maybe now too).
In 2005 I expected to have substantial gains so I increased my regular withholding to avoid having to play the Quarterly Estimated Tax Roulette game in 2006. My 2005 gains were large but unrealized (I didn't sell the winners in 2005 since they were still climbing), so I got an embarrassingly large refund from the IRS in mid-February (e-file with Direct Deposit and you have your money in 7 to 10 days!).
I always try to pay my withholdings so that the net difference owed/due after completing the 1040 is under $50. I usually achieve my goal too!
posted by 68.40.14...
_______________________________________ Saabs owned: 2008 9-5 Aero Sedan, sold at 227K miles 2006 9-3SC 2.0T - Wife's daily driver 2000 Viggen Convertible - Sold May, 2022 1964 Quantum IV Formula Car - Retirement project 2000 9-5lpt Sedan, sold at 318K miles
, Thu, 13 Apr 2006 17:48:23 <-- Viewing This Message
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