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4th quarter taxes

Discussion in 'Trucker Taxes and Truck Financing' started by haywire12, Dec 23, 2013.

  1. Dec 23, 2013 #1
    haywire12

    haywire12 Light Load Member

    297
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    Dec 20, 2011
    Ontario, Ca
    0
    I am trying to figure out if it is better to pay the 4th quarter taxes in December or hold it to January? This is my first year as a lease operator and was looking at some advice.
     
    haywire12, Dec 23, 2013
    haywire12, Dec 23, 2013
    #1
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  3. Dec 23, 2013 #2
    Roadmedic

    Roadmedic Road Train Member

    18,951
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    Apr 4, 2007
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    Federal taxes make no difference. State taxes can be deducted in the year that you pay them.
     
    Roadmedic, Dec 23, 2013
    Roadmedic, Dec 23, 2013
    #2
  4. Dec 23, 2013 #3
    G/MAN

    G/MAN Road Train Member

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    Sep 3, 2010
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    Are you talking about income taxes or IFTA?
     
    G/MAN, Dec 23, 2013
    G/MAN, Dec 23, 2013
    #3
  5. Dec 23, 2013 #4
    haywire12

    haywire12 Light Load Member

    297
    97
    Dec 20, 2011
    Ontario, Ca
    0
    Income taxes I am talking about.
     
    haywire12, Dec 23, 2013
    haywire12, Dec 23, 2013
    #4
  7. Dec 23, 2013 #5
    ironpony

    ironpony Road Train Member

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    Sep 23, 2007
    Ask my GPS...
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    It makes no difference, unless you are holding the funds in an interest bearing account. Not that bank interest amounts to much of anything...
     
    ironpony, Dec 23, 2013
    ironpony, Dec 23, 2013
    #5
  8. Dec 23, 2013 #6
    Roadmedic

    Roadmedic Road Train Member

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    Apr 4, 2007
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    Depending on the state, it is sometimes worth the payment of the state income tax in a year where there might be additional write offs on the itemized deductions to make a difference.
     
    Roadmedic, Dec 23, 2013
    Roadmedic, Dec 23, 2013
    #6
  9. Dec 23, 2013 #7
    ironpony

    ironpony Road Train Member

    17,502
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    Sep 23, 2007
    Ask my GPS...
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    Aw now let's get real. We're Lease-Ops here... they probably owe us!:biggrin_2559:
     
    ironpony, Dec 23, 2013
    ironpony, Dec 23, 2013
    #7
  10. Dec 23, 2013 #8
    Roadmedic

    Roadmedic Road Train Member

    18,951
    8,981
    Apr 4, 2007
    0

    Might have a wealthy spouse.:biggrin_25522:
     
    Roadmedic, Dec 23, 2013
    Roadmedic, Dec 23, 2013
    #8
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