Next Estimated Tax Payments Due June 15th

The next deadline for submitting estimated payments of federal income tax is June 15, 2010. Estimated tax payments are typically made by people with income from investments, self-employment, and rental property. Figuring out how much to send in as a payment can get complicated sometimes. The easiest method is to take your 2009 total tax and divide by four, and adjust for any payments already made through withholding. But this method assumes that your 2010 finances will be roughly similar to last year. If your income has changed significantly, you may want to calculate a more accurate amount to pay by drafting out a tax calculation based on your actual 2010 income and deductions.