Understanding Your Quarterly Estimated Tax Payments

In this video (13:14), I explain the concept of estimated tax payments and why they are important. I discuss how the IRS and state agencies require taxpayers to have about 90% of their tax liability paid throughout the year. I also mention that estimated tax payments are optional but can help avoid penalties. I provide information on the due dates for these payments and suggest making the fourth quarter payment by December 31st. Additionally, I mention that California has a different payment schedule and explain how to make these payments online. Overall, this video aims to provide clarity on estimated tax payments and their significance.

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