>
>"Dan Abel" sonic.net> wrote
>

>> "Cindi - HappyMamatoThree" yahoo.com> wrote:

>

>>>>> stimulus checks are paying off last year's taxes. This year we are
>>>>> paying estimated taxes to avoid having a balance at the end of the
>>>>> year. The last two years we have been stuck so hopefully this year
>>>>> will be very different.

>>>>
>>>> Unless you are in a penalty situation, you're better off "paying
>>>> yourself" by putting what you would have paid as estimated taxes into a
>>>> specially designated money market account.

>>>
>>> I need to bring that up with DH. He was intent about paying it off. We
>>> don't
>>> have any penalty situation so yours is a good option.

>>
>> But it appears that simply underwithholding (or not paying estimated
>> taxes) automatically puts you in a penalty situation. We just got
>> dinged by the state, and the penalty is more than any interest we could
>> have earned. We both filed and paid in full, on time. And we had to
>> pay interest, too.

>
>I wondered about that myself. I thought you were in for penalties and
>interest if you didn't pay some 90%% of what you owed.
>
>nancy
>