Can you pay your capital gain taxes monthly ?

Discussion in 'Taxes and Accounting' started by cashclay, Jun 9, 2021.

  1. cashclay


    I have this fear that at the end of the year when I have to calculate my taxes I might not have enough .
    Holding and saving that amount for an entire year can also be quite complicated and risky considering I might have unexpected bills to pay.

    Is it possible to pay it off monthly ?
  2. AR15



    A lot of people pay it quarterly for this reason

    IRS thieves will never refuse your money
    murray t turtle and cashclay like this.
  3. Deposit as much as you want with the IRS any time. They will gladly take your money. And even give you a small interest payment if it was more than you needed to deposit!
  4. cashclay


    Yeah I think this would be smarter and easier to do . Thank you
    murray t turtle likes this.
  5. Overnight


    NEVER EVER EVER EVER EVER give the gubmint more money than they legally can get from you.

    This is the same government that overtaxes you on everything from estate sales to home loans. This is the same government that deflates the purchasing power of the dollar.

    You let the government have your money on interest that is negative yield? So you understand that concept?

    Don't give them a dime more than is legally required, because they will fuck you at the drive-thru.
    johnnyrock and CALLumbus like this.
  6. Overnight


    So deposit 10 million bux over what you would ever owe with the IRS. What is the IRS yield? How much money are you getting for loaning to those scumbags who have taxed the majority of your wealth? THINK McFLY!
    CALLumbus and cashclay like this.
  7. CET


    You will get paid interest by the IRS on any over payment if they take an excessive amount of time to process your return and you are requesting a refund. If you are applying the over payment to the next tax year you do not get paid interest. You do not get paid interest on any over payment prior to filing your return.
    Last edited: Jun 10, 2021 at 12:02 AM
    noddyboy and cashclay like this.
  8. Bla bla. You do realize the government is just made up of people like you and your neighbors and the streets you drive on, police you are protected by, firefighters who save your house, schools that educate your children, utilities that power your home and clean your trash are all the government you apparently hate so much. I will never understand those anti government dumb nuts. If you hate policies then motivate others to vote differently and help to change policies, but hating a government just because, lol, that's just stupid. I mean, you would have a case if your government was despots and torturers such as in North Korea. But you just got riled up about a first world problem that really is none.

  9. Arnie


    Every quarter just take 30% of what you made and send it in with this form. Unless you are really high income, you should not have to pay any more tax at year end.
    cashclay likes this.
  10. newwurldmn


    Pull the money out but only send the IRS the bare minimum. I prefer to pay penalties than to pre-pay taxes. It’s a bitch to get money back. For the taxes I filed in October, they still owe me 200k and as of now my return hasn’t even been processed!
    cashclay likes this.