The Official Forum  

Go Back   The Official Forum > Basketball

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1 (permalink)  
Old Sat May 17, 2008, 01:12pm
Official Forum Member
 
Join Date: Dec 2007
Location: Bay Area, CA
Posts: 208
Quarterly Estimated Tax Payments?

curious as to how many file these solely related to officiating income?
Reply With Quote
  #2 (permalink)  
Old Sat May 17, 2008, 08:29pm
Administrator
 
Join Date: Sep 1999
Location: Toledo, Ohio, U.S.A.
Posts: 8,044
Quote:
Originally Posted by ca_rumperee
curious as to how many file these solely related to officiating income?

Never have. And never will. I do not know of any sports officials that file them.

MTD, Sr.
__________________
Mark T. DeNucci, Sr.
Trumbull Co. (Warren, Ohio) Bkb. Off. Assn.
Wood Co. (Bowling Green, Ohio) Bkb. Off. Assn.
Ohio Assn. of Basketball Officials
International Assn. of Approved Bkb. Officials
Ohio High School Athletic Association
Toledo, Ohio
Reply With Quote
  #3 (permalink)  
Old Sat May 17, 2008, 08:59pm
Official Forum Member
 
Join Date: Apr 2008
Posts: 19
If you are an "amatuer" ump, doubtful you would need to. Probably don't make enough in a quarter if you track expenses as well. If you're pro, probably don't need to as withholding is probably done. So very unlikely anyone is doing so.
__________________
Scott (aka 4bases1bat)
Reply With Quote
  #4 (permalink)  
Old Sat May 17, 2008, 11:00pm
ODJ ODJ is offline
Official Forum Member
 
Join Date: Apr 2008
Posts: 390
Schedule C on the annual 1040.
Reply With Quote
  #5 (permalink)  
Old Sun May 18, 2008, 12:25am
Official Forum Member
 
Join Date: Aug 2000
Posts: 14,616
Quote:
Originally Posted by ca_rumperee
curious as to how many file these solely related to officiating income?
General Rule

You Must Pay estimated tax for 2007 if both of the following apply.
  1. You expect to owe at least $1,000 in tax for 2007, after subtracting your withholding and credits.
  2. You expect your withholding and credits to be less than the smaller of:
-------a. 90% of the tax to be shown on your 2007 tax return, or
-------b. 100% of the tax shown on your 2006 tax return. *Your 2006 tax return must cover all 12 months.
--------* Certain taxpayers with higher adjusted gross income must substitute 110% for 100%. Refer to Chapter 2 of Publication 505, Tax Withholding and Estimated Tax, for the income amounts that the higher percentage applies to.


If you have other sources of income and have withholding, it's unlikely you'll need to pay quarterly estimated taxes. i don't know anyone who does. Pay it at the end of the year, if you owe anything at all.
__________________
"...as cool as the other side of the pillow." - Stuart Scott

"You should never be proud of doing the right thing." - Dean Smith
Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Quarterly possesion bargi Basketball 1 Fri Nov 17, 2006 12:30pm
Officials' Quarterly my3sons Baseball 60 Mon Mar 06, 2006 01:04pm
MLB, NCAA, NFHS Payments PAT THE REF Baseball 6 Thu Jun 24, 2004 07:16pm
Summer edition of Official's Quarterly Skahtboi Softball 3 Sat Jun 05, 2004 12:05am
Officials Quarterly... w_sohl Basketball 9 Thu Nov 20, 2003 08:14pm


All times are GMT -5. The time now is 01:24am.



Search Engine Friendly URLs by vBSEO 3.3.0 RC1