Income Taxes and Record Keeping ( tax ) Message Board

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Strategies & Market Trends : Income Taxes and Record Keeping ( tax )

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To: k.ramesh who wrote (2489)	12/13/1999 8:06:00 PM
From: Stewart Whitman	Read Replies (1) of 5810

> What if in the middle of the 3Q you realized that you might owe a > lot more than previously thought of? ie, in the first 2Qs you made > some but figured that your withholdings and deductions, trading > losses etc would cover the extra. > How in the heck can you estimate your expected trading profits or > losses? If you have unequal quarterly income, there's some form you can fill as part of your tax return to avoid (or decrease) penalties for not making equal quarterly payments. Don't recall which form it is, but I've had to fill it out once - it's pretty painful though - essentially doing a mini-tax return per quarter, ergo good record-keeping. Regards, Stew

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