Tax Guy: You need to pay your taxes quarterly if…

You need to pay taxes quarterly if…

For most of us, tax day comes just once a year — on or around April 15. But for people who owe estimated personal federal income taxes, Uncle Sam expects a check four times a year. Unfortunately, you may be one of those beleaguered quarterly taxpayers if any of the following scenarios applies to you.

  • You cashed in some significant stock market winners but did not change the tax withholding from your salary.
  • You or your spouse are or became self-employed and owe both income and self-employment taxes for your efforts.
  • You employ a nanny and pay her federal payroll taxes.

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