re: Will You Get a Tax Refund or Do You Owe?

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Yea the responses where people owe 5 figures... Most likely not a good move

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Not paying estimated taxes is rarely a good financial move never mind the potential audit flag. If you set the money aside it is hard to be ahead most years when you consider the penalty and the capital gains/interest income you have to pay on any money earned where you parked it. If you do really well where you keep the money it is possible to come out ahead but it isn't likely to be every year. I have paid estimated taxes for almost 25 years and since my income goes up every year save for a couple of outliers I just pay 100% of my previous year's tax liability and avoid any penalties. If your income is significantly variable like a lot of businesses it makes more sense to spend the time and do a real estimate every quarter so you don't over or under pay by any significant margin.

Owe. Always nice…