Paid Estimated Taxes, Who Sold Their Car? @ The Roundup

by Silicon Valley Blogger on 2008-06-163

On Estimated Taxes

The weekend was uneventful but we did have to pay our estimated taxes a few days ago. It was the first time we’ve actually done so because in the past, as full-time employees, it was easy enough to increase our withholding amounts or adjust our deductions to reflect how much we’d like to have withheld from our paychecks. This W-4 calculator actually makes it quite simple to figure out your withholding amounts, allowing you to get the most out of your paycheck.

Nowadays, as self-employed folks, we need to keep a lot of records, take note of our unstable income which shifts with the wind (with a lot of ebbs and flows) and to make sure we’re on the ball with business receipts, deductions and the like. So far, it’s been lots more work for much less pay that we’re getting. Such are some of the “hassles” we take in stride as newbie entrepreneurs.

But in between the errands, I was still able to get to some fine reading:

Personal Finance Reads

  • The Simple Dollar: The subject of guardianship is sensitive and requires deep thought. This was something I’ve mulled over deeply and for now, I can only say that our decisions are subject to change.
  • Blueprint For Financial Prosperity: A clever idea brought to us by Jim — he suggests that we use a “leftover calendar” to keep track of our leftovers in order to avoid food spoilage.
  • Free Money Finance: My eyes popped out after reading about John McCain’s credit card liabilities. Over $100,000 in credit card debt? The speculation is that he’s racking up massive rewards on his cards while paying off his debt in full each month. Interesting bit here on the credit card habits of our political candidates.
  • Five Cent Nickel: I’m still wondering about receiving the first one, but it seems that there are people who’ve received more than one economic stimulus check. Some advice here on what to do if you’ve received multiple checks.
  • Lazy Man and Money: Lazy Man is psyching himself up for his next big vacation to Thailand!
  • Money Smart Life: I’ve got several friends and family who’ve gotten involved with direct sales. Heck, even I have (and the results were not good)! How has the “MLM” or multi-level marketing phenomenon affected your relationship with your loved ones?
  • Gen X Finance: Make a good first impression and you’ll sell your home faster. I echo Jeremy’s sentiments on this. 🙂
  • The Sun’s Financial Diary: Sun offers more thoughts about the economic stimulus payment. Will you spend it or save it?
  • Mighty Bargain Hunter: I agree wholeheartedly with this statement: I love credit cards, and particularly, the best cash back credit cards available, but I totally hate the debt. MBHunter makes the point that credit cards are a financial tool to be used with care.
  • No Credit Needed: Just last week, I was guilty of buying those pre-sliced fruit pieces for a party (I was in a hurry 🙁 ). Gah! I would’ve saved much more by doing the slicing myself and being more prepared for the party.
  • Million Dollar Journey: Frugal Trader has a reader who’s interested in trading stocks. Here’s how to start — and watch your step!
  • My Dollar Plan: Congratulations to Madison, who just sold her car! Check out her strategies for making a successful sale.
  • Brip Blap: Steve gave me a bit of a headache by describing the client he’s working for right now. His post reminds us just how rough it can get in the business/corporate world.


I’d like to give a shout out to The Shark Investor for featuring me in his blog as his first interview for a series he’s doing to get to know other financial bloggers and to learn about their financial philosophies. I am delighted and honored!

Copyright © 2008 The Digerati Life. All Rights Reserved.

{ 3 comments… read them below or add one }

Mrs. Micah June 16, 2008 at 12:19 pm

The whole tax issue is a real bear…fortunately (?) I’m not earning enough that it’s a huge issue. Right now it seems to be working with higher withholding at my salaried jobs and squirreling some aside too.

Silicon Valley Blogger June 23, 2008 at 9:39 am

Mrs. Micah,

Anything to do with tax reporting is a pain 😉 . It was bad enough when my spouse and I were both salaried. It’s just gotten hairier now that we’re both self-employed. Gah! I hope to get a handle on it eventually. Maybe experience will make it less taxing (pun intended) 😉 .

Ryan October 26, 2010 at 6:42 pm

I feel ya. I just started my law firm and taxes are a nightmare.

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