NOT filing your estimated taxes could save you money?

[ChrisHeggem]

This morning I was reading The Bottom Line blog and they suggested that if you are strapped for cash, you could save more money in the long run by waiting and just paying your end of year taxes. The deadline for estimated taxes is due at the beginning of next week, but the penalty for paying your estimated taxes late is only 3% annually (compared to the over 14% rate of credit cards that many businesses pay their estimated taxes with). For some companies, it might make sense for you to pay off your credit cards this week and take the lower rate from the IRS.

View the full post here: The Best Small Business “Loan” Available to Every Business in the Country!

Thoughts?

[AndyMc]

Thanks for the posting. This is something a lot of people don’t recognize. The federal and local governments use us as financing tools.. why don’t we use them!

[ChrisHeggem]

It's amazing what you can find when you read the small print. Just make you can pay off EOY taxes... the IRS isn't the best organization play games with. :-)