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What are estimated taxes?

Estimated taxes are used to pay income tax that usually isn't subject to withholding. Examples of this income are self-employment, interest, alimony, gains from the sale of assets, etc.

Shouldn't my employer take out enough tax?

In most instances, yes. There may be several reasons you haven't had enough withheld, including a change in your salary but not your withholdings, a change in your deductions and/or credits from prior years, etc.

If you have had a major change in salary you may want to consider reevaluating your W-4 form that is on file with your employer. If you think you will owe taxes at the end of the year and should be sending in estimated taxes please give us a call, we can help!