Tax,
Law Practice
Mar. 8, 2021
Guidance for navigating legal settlements, legal fees and estimated taxes
Two rules can help avoid penalties.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
If you get a paycheck that has taxes taken out of it, you probably never thought about estimated taxes. To most people, "estimated tax payments" are a foreign concept. After all, payroll checks have taxes withheld. You can adjust your tax withholding up or down during the year by giving your employer an IRS Form W-4 that claims greater or smaller withholding allowances. Then, when you file your tax return in April (or in October if you go on automatic extension), you ...
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