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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: Rick who wrote (274)	4/22/1998 9:39:00 PM
From: Spots	Respond to of 1383

You can always make quarterly payments, and you can always have more money withheld. The IRS takes all. The advantage to withholding is that you don't have to pay it in a timely way throughout the year. The disadvantage is that you have to anticipate it in order to arrange for it. Either way, if you don't pay up according to the rules, you will pay a penalty. HOWEVER, if last year's income was lower there are escape clauses. They change too fast for me to keep up with, but they bear checking out ...

To: Rick who wrote (274)	4/22/1998 11:01:00 PM
From: Don Roberts	Read Replies (2) \| Respond to of 1383

Personally, I wouldn't make quarterly contributions or have anything withheld ... what if you do great all year, but the last month or 2 lose everything? Then you overpaid for the year! I would just calculate your gains and how much you have to pay on Dec. 31st, and put that money in a CD or money market account till April 15th. That way it is safe, and you are earning interest before you have to pay. Hope this helps. Don