Another thing you need to learn is what the "safe harbor" rules are for both your federal and state returns. The "safe harbor" rules indicate the minimum amount of taxes you need to have paid beforehand, though withholding and estimated taxes. If your tax liability is very low (or zero), you may need not to have prepaid any taxes beforehand. The instructions for making estimated taxes will show you how to figure this out.
The 4th quarter 2017 estimated tax payments are due on or about January 17th (give or take a day), so you have time to figure it out. However, if you plan to itemize your deductions on your federal return, you will need to pay your state estimated income taxes by the end of 2017 so you can deduct them. I just made my 4th quarter estimated state income tax payment today for that reason. I'll make my 4th quarter estimated federal income tax payment next week (after I receive some more end-of-month money).
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Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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