Second Quarter Estimated Payment Due 6/17!

Believe it or not, we are almost six months through the year. If you are a member of the clergy who is treated as self-employed in regards to Social Security and Medicare taxes, your second quarter estimated payment is due on 6/17/2019. The United States has a pay-as-you-go tax system. The Internal Revenue Service expects…

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What is the Estimated Tax Penalty?

The United States has a “pay-as-you-go” tax system. Rather than waiting for the end of the year to get their taxes, the government wants taxpayers to pay smaller portions of tax throughout the year. For most wage-earners, they don’t even need to think about it- Their employer takes money out of their paycheck and pays…

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First Quarter Estimated Payment Due

In addition to filing and paying your 1040 return, your first quarterly estimated payment will be due on April 15, 2019.  If you are a Clergy Financial client and have not yet received your updated estimated payments for 2019, you should continue to pay the same estimated amount to federal/state as you have in the…

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Government Shut Down, but Estimated Payments Still Required.

Even though the Government is currently shut down, IRS has not yet changed any of the deadlines for making estimated payments. This means that if you are required to make quarterly estimated payments, your final estimated payment for 2018 is still due Tuesday, January 15th of 2019. Make sure you remember to make your last…

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