Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Posting-Version: version B 2.10.3 alpha 4/15/85; site leadsv.UUCP
Path: utzoo!linus!decvax!decwrl!amdcad!cae780!leadsv!morse
From: morse@leadsv.UUCP (Terry Morse)
Newsgroups: net.taxes
Subject: Re: income averaging
Message-ID: <823@leadsv.UUCP>
Date: Wed, 19-Feb-86 15:25:45 EST
Article-I.D.: leadsv.823
Posted: Wed Feb 19 15:25:45 1986
Date-Received: Sun, 23-Feb-86 06:12:05 EST
References: <1911@jhunix.UUCP>
Organization: Lockheed, Sunnyvale CA
Lines: 17
Summary: quarterly estimate payment, IRA

In article <1911@jhunix.UUCP>, ins_alal@jhunix.UUCP (Laurah Limbrick) writes:
>
> Is 
> there something I should have done when I realized that I had earned over 
> $3300?
> 

In order to prevent the penalty for underpayment, you should have sent in a
quarterly estimate payment.  I believe it's too late now, but the tax on
$3300 is small enough that there will be little or no penalty.

Here's another way to beat the tax rap:  put as much as you can
afford into an IRA.  That's your best way to save tax money.
-- 

Terry Morse  (408)743-1487
{ hplabs!cae780 } | { ihnp4!sun!sunncal } !leadsv!morse