I have usually received a refund, both state and federal. In 2011 I was unemployed for awhile and no taxes were taken out. In addition, I converted some money to a Roth in 2010 which I chose to pay out over the 2011 and 2012 tax years. When I filed my 2011 return, I ended up owing the state money and then about a month later I received a bill for a tax penalty in the amount of $18.00. This has never happened to me.
For 2012, I was unemployed for a short time and will have the remaining portion of the Roth conversion due.
I just received from the state forms for estimated tax payments and vouchers for the 2013 tax year. I never had to deal with estimated tax payments before and my question is how do I know if I will end up owing any money for 2013. I am now working, although making less then in the past and will not have any roth conversions to increase my income.
If I owe anything for 2012, it will be promptly paid.
I would appreciate any advice.
Thanks
For 2012, I was unemployed for a short time and will have the remaining portion of the Roth conversion due.
I just received from the state forms for estimated tax payments and vouchers for the 2013 tax year. I never had to deal with estimated tax payments before and my question is how do I know if I will end up owing any money for 2013. I am now working, although making less then in the past and will not have any roth conversions to increase my income.
If I owe anything for 2012, it will be promptly paid.
I would appreciate any advice.
Thanks