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5610 Ward Road, Suite 300 Arvada, CO 80002
9200 E. Mineral Avenue Centennial, CO 80112
Phone: 303-252-0852
Website: www.walshfinancialsolutions.com
March/April 2018
Estimating Future Taxes
Did you underestimate your tax bill? It doesn’t have to be this way next year.
Costly Mistake
This can happen when you don’t deposit taxes with the IRS for income from which taxes were not deducted. Not paying taxes periodically on this income can trigger penalties and interest on your underpayment.
Calculations on IRS Form 1040-ES can tell you what you owe next year. Divide that number by four and submit payment on the dates instructed by the IRS (located in the form). Or if your spouse has a job where the employer withholds taxes from income, consider decreasing exemptions, which would increase the taxes withheld.
Take It Easy
If you want to use technology to estimate your taxes, use a popular tax software program or the IRS’ own app at https://apps.irs.gov/app/withholdingcalculator.
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Advisory Services offered through Walsh Financial Solutions or Vanderbilt Advisory Services. Securities offered through Vanderbilt Securities, LLC. Member FINRA, SIPC. Registered with MSRB. Walsh Financial Solutions and Vanderbilt Securities, LLC are separate and unaffiliated entities. Clearing agent: Fidelity Clearing & Custody Solutions. Insurance Services offered through Vanderbilt Insurance and other agencies. Supervising Office: 125 Froehlich Farm Blvd, Woodbury, NY 11797 631-845-5100
For additional information on services, disclosures, fees, and conflicts of interest, please visit www.vanderbiltfg.com/disclosures
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