Money Roots
Amy Irvine
Welcome to "Money Roots," the podcast where personal finance becomes personal. Join host Amy Irvine, CEO of Rooted Planning Group, as she demystifies the world of finance and makes it approachable for everyone, from beginners to financial experts. In each episode, Amy and her guests dig deep into the financial soil, planting the seeds of financial knowledge and helping you nurture your financial future. Whether you're looking to build a solid budget, invest wisely, or plan for retirement, "Money Roots" has you covered. Get ready to explore practical advice, inspiring stories, and expert insights that will empower you to take control of your financial destiny. It's time to grow your money roots and thrive financially! Subscribe to "Money Roots" now and join Amy on this exciting journey to financial empowerment. Let's put down some roots and flourish together.
Catégories: Éducation
Écoutez le dernier épisode:
About the Guest(s):
Kerrie Beene: Kerrie Beene is a CERTIFIED FINANCIAL PLANNER™ at the Root Planning Group. With extensive experience in personal finance, Kerrie is dedicated to helping clients navigate their financial journeys. She specializes in providing practical advice on budgeting, investing, tax planning, and more. Her approach is centered around making complex financial topics understandable and actionable for everyone.
Episode Summary:
In this insightful episode of the Money Roots podcast, Certified Financial Planner Kerrie Beene takes the spotlight to delve into the essential topic of estimated tax payments. With her wealth of knowledge, Kerrie provides a thorough breakdown of what estimated tax payments are, who needs to make them, and the crucial timelines involved. Whether you're self-employed, an investor, or earning rental income, this episode is packed with valuable insights to help you stay ahead of your tax obligations.
Kerrie begins by explaining the concept of estimated tax payments, highlighting their importance for individuals who have income not subject to withholding, such as freelancers, landlords, retirees, and those with side gigs. She discusses the general rule of thumb for those who need to make these payments, emphasizing the significance of being proactive to avoid any surprises during tax season. Kerrie also outlines the quarterly deadlines for estimated payments and the potential penalties for underpayment, stressing the benefits of staying on top of your tax game.
Moving forward, Kerrie provides actionable steps on how to determine the amount you need to pay and offers multiple methods for making these payments. Whether you're paying online, by mail, or through automatic withdrawals, she ensures you have the knowledge to choose the most convenient option for you. Throughout the episode, Kerrie emphasizes the importance of consulting with a tax professional to ensure accuracy and avoid penalties. This episode is a must-listen for anyone looking to manage their estimated tax payments effectively and reduce the stress of tax season.
Key Takeaways:
- Importance of Estimated Tax Payments: Understand why estimated tax payments are crucial for those with income not subject to withholding.
- Who Should Make Payments: Learn about the different types of individuals who need to consider making estimated tax payments, from freelancers to retirees.
- Due Dates and Penalties: Get to know the quarterly deadlines and the consequences of missing these payments, including potential penalties.
- Calculation Methods: Discover how to calculate the amount you need to pay based on last year's tax liability or this year's estimated income.
- Payment Options: Explore the various methods available for making estimated tax payments, including online payments, mail, and automatic withdrawals.
Notable Quotes:
- "Estimated tax payments are simply just prepayments of your income that the IRS expects you to make throughout the year."
- "If you expect to owe at least $1,000 in taxes when you file your return and you haven't paid enough through your withholdings, you'll probably need to make estimated tax payments."
- "The IRS wants its cut as you earn that income, not just at the end of the year when you file your tax return."
- "Being proactive and taking care of your estimated tax payments ahead of time can help you avoid penalties and make tax season less stressful."
- "Always reach out to a tax professional if you're unsure about your tax obligations to ensure you're doing everything correctly."
Resources:
- Root Planning Group
- IRS Estimated Tax Payments Information
- Submitting Form 1040-ES
- Online Payment Options with the IRS
Stay tuned to the Money Roots podcast for more episodes packed with practical financial advice and insights that can help you cultivate a thriving financial future. Don't forget to subscribe to never miss an episode!
Épisodes précédents
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314 - Understanding and Managing Estimated Tax Payments for 2024 Thu, 12 Sep 2024 - 0h
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313 - Smart Spending for Busy Women Wed, 28 Aug 2024 - 0h
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312 - Embracing Underconsumption: Spending Intentionally and Saving Wisely Wed, 14 Aug 2024 - 0h
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311 - Stress and Gratitude: A Conversation with Dr. Laura Carapella Wed, 26 Jun 2024 - 0h
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310 - Crafting Your Financial Story: Be the Hero of Your Life Wed, 19 Jun 2024 - 0h
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309 - Facing Financial Fears: Strategies for Overcoming Money Anxiety Wed, 12 Jun 2024 - 0h
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308 - Reducing Stress and Anxiety Around Money: Tips for Taking Control Wed, 05 Jun 2024 - 0h
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307 - The Importance of a Home Inspector: Answering Common Questions Wed, 29 May 2024 - 0h
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306 - Creating a Home Management Binder for Effective Household Organization Wed, 22 May 2024 - 0h
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305 - Creating a Personal Property Inventory for Homeowners: Tips and Benefits Wed, 15 May 2024 - 0h
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304 - Exploring Home Improvements vs. Buying a New Home in Today's Market Wed, 08 May 2024 - 0h
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303 - Multi-generational Living: The Importance of Starting the Conversation Early Wed, 01 May 2024 - 0h
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302 - The Pros and Cons of Taking Out a 401K Loan Wed, 24 Apr 2024 - 0h
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301 - Slow and Steady Wins the Race: Lessons in Financial Planning Wed, 17 Apr 2024 - 0h
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300 - Understanding Your Tax Return: A Line-by-Line Guide Wed, 10 Apr 2024 - 0h
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299 - Understanding the Tax Bucket Strategy for Retirement Planning Wed, 03 Apr 2024 - 0h
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298 - Spring Cleaning Your Finances Wed, 27 Mar 2024 - 0h
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297 - Saving for College and Other Priorities: Insights from a Parent Wed, 20 Mar 2024 - 0h
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296 - Navigating Competing Goals and Priorities in Personal Finances Wed, 13 Mar 2024 - 0h
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295 - Navigating Competing Goals: Tips for Managing Finances in 2024 Wed, 06 Mar 2024 - 0h
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294 - Under One Roof: A Guide to Multigenerational Living and Care Wed, 28 Feb 2024 - 0h
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293 - From Anxiety to Action: Transforming Your Money Conversations Wed, 21 Feb 2024 - 0h
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292 - Teaching Children Money Skills: A Guide for Parents Wed, 14 Feb 2024 - 0h
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291 - Navigating Couples and Money: Tips for Building Financial Harmony Wed, 07 Feb 2024 - 0h
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290 - Tips for Managing Finances After Losing Your Job Wed, 31 Jan 2024 - 0h
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289 - Financial Wellness: Tips for a Successful Year Wed, 24 Jan 2024 - 0h
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288 - The Journey of First-Time Moms: Health and Financial Tips Wed, 17 Jan 2024 - 0h
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287 - The Connection Between Nutrition and Financial Planning Wed, 10 Jan 2024 - 0h
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286 - Happiness Coach Sandra Miller Shares Tips for Finding Authentic Joy Wed, 03 Jan 2024 - 0h
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285 - Money Roots: A New Direction for Wine and Dime Wed, 13 Dec 2023 - 0h
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284 - Navigating Family Finances During the Holidays: Tips and Insights Wed, 06 Dec 2023 - 0h
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283 - What Issues Should I Consider Before the End of the Year? Wed, 29 Nov 2023 - 0h
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282 - The Sandwich Generation: Navigating the Challenges of Aging Parents Wed, 15 Nov 2023 - 0h
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281 - Caring for Aging Parents: The Sandwich Generation Struggle Wed, 08 Nov 2023 - 0h
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280 - Considering the Financial and Emotional Factors of Buying a Home Wed, 01 Nov 2023 - 0h
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279 - Exploring Financial Information Sources with Liz Zemak Wed, 25 Oct 2023 - 0h
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278 - Investment Long Game: Why Staying in Stocks Pays Off Wed, 18 Oct 2023 - 0h
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277 - Budgeting Tips and Tricks for a Successful Spending Plan Wed, 11 Oct 2023 - 0h
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276 - Understanding Asset Allocation: A Simplified Guide for Investors Wed, 04 Oct 2023 - 0h
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275 - How to Sell Yourself at a Job Interview, Without Sounding Like a Jerk With Sarah Connors Wed, 20 Sep 2023 - 0h
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274 - To Divorce or Not To Divorce: Moving Gracefully Through Your Journey with Paula Lesso Wed, 13 Sep 2023 - 0h
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273 - Diving into the 529 Plan: College Savings and Strategies Wed, 06 Sep 2023 - 0h
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272 - Exploring the Changes in FAFSA: A Comprehensive Guide Wed, 30 Aug 2023 - 0h
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271 - Top 10 Changes to the FAFSA for the 2023 - 2024 FAFSA Season Wed, 23 Aug 2023 - 0h
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270 - College Planning Fundamentals: Terminology and Financial Aid Tips Wed, 09 Aug 2023 - 0h
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269 - Special Needs Trusts: A Guide to Protecting Your Loved Ones Wed, 02 Aug 2023 - 0h
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268 - Understanding the Five Wishes: A Comprehensive Guide to End-of-Life Planning Wed, 26 Jul 2023 - 0h
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267 - Power of Attorney: Your Financial Lifeline in a Bottle Thu, 20 Jul 2023 - 0h
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266 - Supreme Decisions: The Impact on Student Loans Wed, 05 Jul 2023 - 0h
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265 - Healthcare Proxies & Your Comprehensive Estate Plan Wed, 28 Jun 2023 - 0h