Peshke Financial
  • Services
    • Tax Preparation
    • Home Loans
    • Personal Finance Coaching
  • About Us
    • Meet Chad
    • Meet Emilie
    • Chad's Story
  • Client Resources
    • Tax Resources
    • Home Loan Resources
    • Financial Coaching Resources
  • E-News
  • Client Reviews
  • Contact Us
  • Services
    • Tax Preparation
    • Home Loans
    • Personal Finance Coaching
  • About Us
    • Meet Chad
    • Meet Emilie
    • Chad's Story
  • Client Resources
    • Tax Resources
    • Home Loan Resources
    • Financial Coaching Resources
  • E-News
  • Client Reviews
  • Contact Us
Search by typing & pressing enter

YOUR CART

Do I need to make estimated tax payments?


Everybody loves this answer: it depends! The U.S. requires that you pay taxes on income as you receive it. This is why employers withhold for Social Security, Medicare, and Federal taxes from each paycheck (state taxes also if applicable for your state).

However, if you receive income from sources other than regular employment pay, you may have to make estimated tax payments to comply with the U.S. "pay-as-you-go" requirements. This is because you have no "employer" withholding for you. 

Some instances where you may have to make estimated tax payments include the following:
1.   You're self-employed
2.   You receive significant income from non-wage sources such as alimony and investments (rental properties, stocks sales, interest/dividends, retirement account withdrawals, etc.)

Federal estimated payments are due on a quarterly basis. You may be liable for underpayment penalties and interest if you fail to make these estimated tax payments during the year. Contact us if you would like help preparing your estimated tax payments.​
Picture

SERVICES
ABOUT US
CLIENT RESOURCES
E-NEWS
CLIENT REVIEWS
CONTACT US

Picture
Picture
​​© 2023 Peshke Financial Inc., all rights reserved. NMLS #2244878. "Making Finances Simple. Changing Lives." is a pending trademark with USPTO. Material contained in this website is for informational purposes only and is not meant to be construed as direct financial advice for your specific situation. It is recommended that you consult with your own advisors for any personalized financial guidance. Since we’re not licensed attorneys, we cannot provide legal advice. As such, any info contained in this website should not be construed as direct legal advice. Individual Licensure (see profiles) - click here. Send Docs Securely - click here.