I was wondering how to go about figuring out how much money I should send Uncle Sam. I was W-2 for the first 6 months of the yr and have just started on as k-1. How should I go about in figuring out how much I should pay for the quarter? I was thinking of looking at my last pay stub and just looking to see how much was withheld from my check for the year to date....and then just taking half that amount and sending it to Uncle Sam. Also, how are state taxes figured into all this?
%% Cant tell you about your state[mine is once a year + depends on what kind of sector you are in] [2]Maybe send 100% of W-2, depending on JULY, AUG; i always tried to pay them a bit more than i owed , penalties + hassle is so HI 3]I have mostly used a CPA unless i earn most of my money in a Roth.............................................................................. 4] A CPA will pay for himself in a minute as the banker/business man said 5] Estimated pay supposed to be on a IRS form also, with your name preprinted, but maybe you know that??
As for the tax system, probably everyone knows that in the USA it is three-tiered. Taxation operates at the federal, state and local levels. Taxes are levied on income, wages, sales, property, dividends, imports and other things, as well as various fees. As for your specific case, it all depends on which state and by whom you work. By the way, you can always check stub maker using a special website.