I work several jobs on my own and I declare all income earned as income, but no taxes are paid until I do my taxes at the beginning of each year. So why am I surprised that I owe between 2 and 3 thousand for 2008? Each time this happens I plan to pay quarterly taxes like a good citizen but get busy paying bills and forget about it.

I do have some of the money in savings but don't have enough to fully fund my IRA AND pay taxes so I'm looking around the house at what I can sell...like the dog who snores louder than my husband, or the three cats that dance and thump around all night Ah. well, they have nothing to fear. I will just need to pull myself together and start putting $$ aside for 2009 taxes as soon as I pay the taxes owed for 2008.

Last year we stopped using credit cards and began to save up for emergencies (and paying taxes should never fall into that category) and we have made progress, so I"m forgiving myself, and will start putting 20 percent of what I earn into a tax savings account so this time next year will be a breeze. and this year I mean it! lol.

Have fun.

peace.

The worst thing about paying quarterly is that the first quarter is due at the same time that taxes are due, so the first year you have to come up with last year's and this year's taxes. I pay quarterly because my tax accountant says that I'll owe penalties otherwise. You might want to check into that.  

 I pay quartly and have extra taken out of Dh check to help cover mine. Babs