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You would be taking a risk sm
[ Post a Reply ] [ View Follow Ups ] [ Taxes - Finance ]

Posted By: Rad MT on 2007-05-14
In Reply to: What happens if you don't pay quarterly? - Colleen

It's up to you to decide whether it is worth it.


I am an IC with two part-time jobs. The minute my paycheck is deposited, I put 25% of it into savings. If I were an employee, that money would already be taken out, so it's really not "my money" anyway (I could get into a long rant about taxes here, but I won't).


Even if you choose to wait until December 15, as suggested by one poster, you are still going to have to pay taxes. If you don't put that money into savings, you are going to have to come up with it from somewhere.


You could go for years without being audited. Or you could be one of the unlucky ones who gets flagged immediately.


Your decision.



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