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Started By
Message
re: Do you guys really pay taxes quarterly on realized gains?
Posted on 3/29/26 at 12:34 pm to Fat Bastard
Posted on 3/29/26 at 12:34 pm to Fat Bastard
quote:
it's ridiculous. we would basically need our CPA on speed dial each time a payment comes in.
oh shite we made a dividend this month! pay the tax!
oh shite we got rental payments this month pay the tax
oh shite we made capital gains selling this stock this month pay the tax!
etc
etc
etc
Exactly!! I don't have time for that shite. I generally will re-invest my profits and the vast majority of the time I'll earn more than the interest amount. Also amazing how hard it is to get those quarterlies decreased when your income drops. Especially like in COVID where I knew it was going to drop, but had to pay big arse quarterlies anyway. Sure would've been nice to have that money during 2022 and even last April. And during the Change Healthcare debacle which dropped my insurance collections to $ZERO for two months.
1
Posted on 3/29/26 at 3:38 pm to DiamondDog
I had no idea this was a thing. I’ve received over $1k a year in dividends the past few years (ST and LT gains from selling also) and never paid quarterly so honestly surprised I haven’t heard from the government
This post was edited on 3/29/26 at 3:44 pm
Posted on 3/30/26 at 7:48 am to BruceJender
quote:
I had no idea this was a thing. I’ve received over $1k a year in dividends the past few years (ST and LT gains from selling also) and never paid quarterly so honestly surprised I haven’t heard from the government
You are expected to pay 90% of your taxes by the end of Q4. So if your W-2 job or other income covers 90%, then there’s no reason to worry about quarterly estimated. I’m not a cpa so I’m sure I said something wrong. But that’s the general idea.
It’s not THAT hard to estimate, if your tax bracket is 25%….just send in a 25% payment the first 3 quarters and figure it out the next.
Any over payment is generally applied to the following year if you want. It’s not like if you overpay the money is gone.
People just like to bitch about overpaying.
This post was edited on 3/30/26 at 7:49 am
Posted on 3/30/26 at 9:17 am to DiamondDog
Remember to mark down the month you sold, so that you're not paying a penalty for the entire year. Sells in Jan '25 are gonna have more interest penalty accumulation than Nov '25.
This post was edited on 3/30/26 at 9:18 am
Posted on 3/30/26 at 7:27 pm to SmackoverHawg
quote:
You don't pre-pay. That's the bullshite of it. How the f#$k can I pay on profit I hadn't made yet and it was in Q4. Shady, that's why I won my appeal. Raped me on estimated taxes the next year and then held my money for 4.5 years after I won my appeal.
Really sounds like you need a new CPA. If they would have completed the Form 2210 correctly, then you would not have had to go through the whole appeals process.
Posted on 3/30/26 at 8:19 pm to Wilson
quote:
Really sounds like you need a new CPA. If they would have completed the Form 2210 correctly, then you would not have had to go through the whole appeals process.
I have one.
Posted on 3/31/26 at 8:53 am to DiamondDog
quote:you forgot to harvest your losses Baw
I ain't never made no money on stonks until this year.
Posted on 3/31/26 at 2:29 pm to SmackoverHawg
quote:
I have one.
That's why I said "new". I would have never put a big underpayment penalty on a return without asking a few questions regarding the timing of your income.
I've been a CPA for 24 years and you wouldn't believe how much crappy work I've seen other CPA's produce. Some definitely subscribe to the quantity over quality theory, but to their credit that is usually reflected in the prices that they charge. A good CPA is not cheap, but they should save you more money than they cost. It's just hard for clients to know how good of a job their CPA is doing because 95% of the time, they don't really understand what they're looking at or what they're missing out on.
Posted on 3/31/26 at 2:48 pm to deltaland
quote:im trying to guess my payment now.
think estimated taxes are such bullshite
Posted on 3/31/26 at 5:01 pm to Wilson
quote:
That's why I said "new"
That's what I meant. I changed after that. There were a few other things I didn't think were correct and was proven right with my new CPA firm. The prior CPA had taken over the practice of my old CPA, and my old one continued to handle my account and a few others, but had some health issues that year. Guy used to be an IRS agent. Thought that could either be really good or bad and it was bad. Lazy and doesn't understand the gray area exists for a reason. Don't break the law, but take every loophole they give you.
Posted on 4/2/26 at 7:22 am to Fat Bastard
quote:
F the IRS. They need to be disbanded. Crooks.
Dont be stupid
Posted on 4/4/26 at 8:24 am to Fat Bastard
So you sell properties throughout the year and don't know you have to pay taxes quarterly? Then educate yourself. This is not an IRS problem.
Posted on 4/4/26 at 8:40 am to SmackoverHawg
quote:
It's still bullshite. I don't know what I'm gonna make until the end of the year. We'll settle up then. They sure take their mf'ing time to get me my money back.
I see your other comments about how they made mistakes on your 4th quarter income, so that sounds wrong. But it is reasonable that those making large amounts of income in the earlier quarters should pay the majority of the tax owed close to the dates that the income was realized. This is typical in real estate investing. If the income comes via W2 wages, it is taxed with every paycheck. This is a similar concept. The form calls it estimated tax because final reconciliation is not due until the annual filing, but the amount of tax is based on already realized gains.
Posted on 4/4/26 at 8:48 am to baldona
quote:
You are expected to pay 90% of your taxes by the end of Q4. So if your W-2 job or other income covers 90%, then there’s no reason to worry about quarterly estimated. I’m not a cpa so I’m sure I said something wrong. But that’s the general idea.
It’s not THAT hard to estimate, if your tax bracket is 25%….just send in a 25% payment the first 3 quarters and figure it out the next.
Any over payment is generally applied to the following year if you want. It’s not like if you overpay the money is gone.
People just like to bitch about overpaying.
Mostly correct. The amount of tax owed is not as simple as pay 25% if you are in the 25% bracket. The tax rate is also based on if it is long-term vs short-term cap gains. Long-term capital gains uses a different tax table of 0/15/20%. Short-term uses the standard W2 tax tables.
Posted on 4/4/26 at 9:06 am to nola tiger lsu
quote:Excessive tax is tyranny. The government doing things in my name that I disagree with uses my taxes. NGOs pissing away money uses my money. Paying unmotivated unprofessional government workers uses my money. I'm not saying that I don't buy into how our Republic works, but I don't have to like it. As people have already mentioned, they've been unfairly targeted by the IRS which is a form of tyranny.
Dont be stupid
Having said that, why an income tax that requires so much to enact it? Why not a consumption tax that replaces income tax? Eliminate most of the IRS by doing that. Eliminate individuals from having to file taxes at all. Eliminate record keeping of taxes. Eliminate tax lawyer "work". Eliminate judicial resources related to it.
So, frick taxes and frick how they collect them.
Posted on 4/4/26 at 9:37 am to baldona
quote:
You are expected to pay 90% of your taxes by the end of Q4. So if your W-2 job or other income covers 90%, then there’s no reason to worry about quarterly estimated.
Yes, and if above 90% no under payment penalty. Or, if you are 100/110% depending on your AGI, of prior year’s total taxes due, there is no penalty. Or!
Posted on 4/4/26 at 10:44 am to KWL85
quote:
So you sell properties throughout the year and don't know you have to pay taxes quarterly? Then educate yourself. This is not an IRS problem.
Did i say that? You obviously failed reading comprehension in elementary school and the whole post went over your head. I am a RE investor and have been a long time. Who here on this board does not know this by now?
This post was edited on 4/4/26 at 11:15 am
Posted on 4/4/26 at 10:48 am to nola tiger lsu
quote:
Dont be stupid
looks like the stupid CUCK is you defending the IRS.
This post was edited on 4/4/26 at 10:54 am
Posted on 4/4/26 at 11:02 am to SmackoverHawg
quote:
Exactly!! I don't have time for that shite.
same. especially the 4th quarter last second stuff that it appears we both had that throws a wrench in the spokes.
Posted on 4/6/26 at 9:10 am to DiamondDog
I have my employer withhold extra so I don't have to keep up with it.
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