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Strategies & Market Trends : IRS, Tax related strategies--Traders
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To: Nelson Chang who wrote (681)2/1/1999 9:12:00 AM
From: mod   of 1383
 
In years past, I skipped estimated tax payments (with the ok of my CPA) when I had better uses for the funds. You don't have to pay estimated taxes if you have a better use for the cash. You will have to pay interest (9% sounds right) on the missed payments, and it is not deductible as an expense because it is technically a "penalty", even if you file as a trader. I don't even think you get on the "bad side" with Uncle Sam, as you are paying more interest then they would be earning on the funds themselves.
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