Originally Posted by
Jim Robinson
Steve, if you are being hit hard it may be because you haven't put enough back for the estimated taxes throughout the year. Develop some type of system so that you will have enough on hand for the four estimated taxes, and you shouldn't have much of a problem at 4/15. I use a spreadsheet to keep track of the current year, but do whatever works for you.
Good Advice. It has the added attraction of being the law. Like it or not, federal taxes are supposed to be "pay as you go", not settle up the whole year in April. Of course, if you have a way of earning better interest on the money than the IRS penalty for paying late, more power to you!