June 23, 2006, Newsletter Issue #122: Quarterly Filing

Tip of the Week

As a self-employed individual, you may want to look into filing your taxes quarterly. At some point, you may even be required to do so. While on the surface, it may seem like more of a hassle-doing your taxes four times a year, itīs really not as complicated as it sounds. Essentially, you will estimate your tax liability for the upcoming year (based on your prior yearīs taxes) and pay it in four quarterly installments. This is beneficial in that you are not hit hard at the end of the year with a whopping tax bill due.

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