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Estimated taxes? -
05-31-2008
After 15 years, I am shutting down the retail portion of my nursery business due to age and health. It was always meant to be a supplement to my SSA and small pension. I will remain open for only three months April through June. I had no way to estimate what income I would have during these three months so I didn't file any estimated tax. I'll likely take in about $20,000 and will have paid no taxes on this amount
Will I get penalized for this or is there a way I can pay the taxes on this after June?
Many thanks.
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