On Fri, Jan 21, 2011 at 10:39 AM, TreKing <[email protected]> wrote:

> On Fri, Jan 21, 2011 at 10:36 AM, Justin Giles <[email protected]> wrote:
>
>> Also, for those who have made any significant amount of income, you should
>> probably be making quarterly payments throughout the year, or risk
>> additional fees at the end of the year.
>
>
> Can you define "significant" for those of us whose eyes glaze over at the
> mean mention of doing taxes?
>
>
Here are some guidelines
http://www.irs.gov/businesses/small/article/0,,id=110413,00.html

Basically if after all of your deductions, credits, income, etc. are taken
into account, if you owe more than $1000 (ie: not getting a refund) then you
should have been or should for future years be paying your estimated taxes.
 There are some fines that could go into affect if you owe more than a
certain amount.  I'm not sure what those are though.  I think they are a
percentage of what is owed or something.

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