Tuesday, August 21, 2007

Estimated Tax Payments

A huge time saver for me has been using the federal and state government's websites to pay my estimated taxes. If you are not a wage earner and are required to make estimated payments, I encourage you to take the time to set up your accounts and make your payments electroncially. The following verbage is from the Federal website:

Welcome to EFTPS Online, the official Website of the Electronic Federal Tax Payment System (EFTPS). A free service provided by the U.S. Department of the Treasury, EFTPS allows all federal tax payments to be made electronically. This includes corporate, excise and employment taxes, and 1040 quarterly estimated tax payments. EFTPS Online is an official and secure United States Government System that allows business taxpayers to eliminate paper Federal Tax Deposit coupons and individual taxpayers to eliminate paper vouchers. All taxpayers can benefit by streamlined processing, therefore, saving time, postage costs and money.

The website link is https://www.eftps.com/eftps/

The website is user friendly and guides you in setting up your account. The really nice thing is that you can schedule all your payments in advance for the entire tax year and never have to worry about missing a payment--being on vacation etc...

The Franchise Tax Board's website is http://www.ftb.ca.gov/online/webpay/index.asp

Unfortunately, the State is not as user friendly as the Federal site but with a little bit of patience, you can do the same thing.

If you try setting up your account and need help, please call and either Cheryl or I can help you. It really has made my life a lot easier!

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