How to avoid paying taxs on your leases

 How that alot of us have received there lease payments, any suggestions to get around paying the tax on your lease money before the 1st Jan., such as retirement fund, investments, etc ?

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Permalink Reply by Shower Bath on December 28, 2011 at 8:41am

One thing to keep in mind, if you received your lease payment in the fourth quarter of 2011. You are most likely required to make the estimated tax payment before Jan 15, 2012. Contact your tax preparer, CPA, or financial planner next week to find our what you are required to do. If you fail to submit the estimated tax payment by Jan 15th, you may find that you are liable for late payment penalties when you file your tax return on April 15th. If your bonus was large, you may find that your dealing with the AMT (alternative Minimum Tax).

Randy

Permalink Reply by Gary Ball on December 29, 2011 at 3:49am

Thanks Randy for the advice, I normally dont file my taxs until later in the spring, but I will definely check with my cpa, to avoid any problems. Just wasnt sure if I should try and transfer the funds into another account before the 1 Jan

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