You may have noticed that last year you actually owed taxes when you filed your return.  If it was a small amount you probably didn’t really think much about it.  Just remember if you owe a lot on April 15, the IRS and your state will charge a late payment penalty equal to half a percent a month.  See this article from Julian Block in AccountingWeb about the wonderful (?) world of estimated tax payments:

http://www.accountingweb.com/article/strange-and-subtle-rules-estimated-taxes/223682

If you decide you have to make estimates to avoid penalties, you need to get started!  The next payment due date is September 15; if you have a tax preparer they can go over the numbers and together you can come up with estimates that will at least cut down the amount you would owe April 15 while at the same time work with your cash flow situation.  Then you will not owe the government anything besides taxes.

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