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Personal Finance and Investing

surfered

(6,805 posts)

2. See below

Reply to Mike 03 (Original post)

Fri Dec 13, 2024, 08:07 PM

Dec 2024

If your estimate is based upon 100% of your prior year’s tax and you are making four equal payments, there is no financial benefit to paying early.

If you have underpaid previous estimates, interest is calculated till the date of payment. In that case paying early might save you some interest.

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Mike 03

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Is there a reason I shouldn't pay my fourth quarter estimated taxes early? [View all] Mike 03 Dec 2024 OP

I doubt even Trump could run the IRS into the ground that quickly. nt Shermann Dec 2024 #1

Probably not. But then there's also the psychology of the Mike 03 Dec 2024 #8

See below surfered Dec 2024 #2

Thanks! In my case it's 4 equal payments, but this is Mike 03 Dec 2024 #5

I always pay mine early, by my thinking with just a month til they're due questionseverything Dec 2024 #3

That's me too. I am very OCD about paying my taxes. But this would Mike 03 Dec 2024 #6

Q4 is due Jan 15, 5 days before inauguration date. I do pay STATE estimated taxes before Dec 31, so I can deduct nmmi Dec 2024 #4

Great info. Yes, you are right about foregoing interest. That's the kind Mike 03 Dec 2024 #7