I am self employed and have several points/questions in this post. I am attempting to complete my own taxes this year.
In 2009 I paid estimated state tax payments of $800. In April of 2010 when my accountant completed my taxes, I owed an additonal $2498 in state taxes. I paid $2498 in April of 2010 for my 2009 state taxes. My total state tax liability for 2009 was $3,298. On my 2009 tax return, my account inserted an amount on my Schedule A for my state tax paid; however I'm not sure where that number came from. Is this number a special calculation? Or is it basically the actual state tax one has paid during that tax year?
Can I claim the state tax paid in April of 2010 ($2498 for 2009 tax year) on my current (2010) tax return?
On January 10, 2011, I paid all of my state tax due for 2010. I had not made any estimated state tax payments during 2010 but made an assumption that I could pay all my estimated state tax prior to Jan 15, 2011. I'm not sure this was a correct assumption;however it appears as if I have not been assessed any penalties.
Appreciate any assistance -
CJ
In 2009 I paid estimated state tax payments of $800. In April of 2010 when my accountant completed my taxes, I owed an additonal $2498 in state taxes. I paid $2498 in April of 2010 for my 2009 state taxes. My total state tax liability for 2009 was $3,298. On my 2009 tax return, my account inserted an amount on my Schedule A for my state tax paid; however I'm not sure where that number came from. Is this number a special calculation? Or is it basically the actual state tax one has paid during that tax year?
Can I claim the state tax paid in April of 2010 ($2498 for 2009 tax year) on my current (2010) tax return?
On January 10, 2011, I paid all of my state tax due for 2010. I had not made any estimated state tax payments during 2010 but made an assumption that I could pay all my estimated state tax prior to Jan 15, 2011. I'm not sure this was a correct assumption;however it appears as if I have not been assessed any penalties.
Appreciate any assistance -
CJ