Spring cleaning isn’t just for closets; April is also the perfect time to tidy up your estimated tax payments.
Whether you’re retired, self-employed, or managing income from investments, making quarterly estimated tax payments can help you avoid surprises at tax time. But here’s something not everyone realizes: overpaying your estimated taxes could tie up money that you might need now, and underpaying could leave you facing penalties later.
Why Adjust in April?
By April, most people have already filed their returns or are in the thick of preparing them. That makes this a great moment to check in on your estimated payments for the rest of the year. Using your recent return as a guide, you (or your accountant) can make small adjustments that align more closely with your actual 2025 income expectations.
A quick review now could help you:
- Avoid an unnecessarily large refund that ties up your cash until next year
- Prevent avoidable underpayment penalties from the IRS and state tax agencies
- Free up funds to support your current goals—whether that’s saving, spending, or giving
How a Daily Money Manager Can Help
At Assurance Family Partners, we help clients stay organized and proactive with their finances, including estimated taxes. We assist with:
- Tracking, organizing, and processing quarterly payments
- Communicating with accountants and wealth managers to ensure accurate forecasting
- Ensuring due dates don’t slip through the cracks
- Identifying changes in income or deductions that might affect your tax liability
It’s all about creating a system that works and keeping things running smoothly, so there are fewer surprises and more peace of mind.
A Little Planning Goes a Long Way
Life changes: your income, deductions, and financial priorities might look different from one year to the next. That’s why it’s worth making small adjustments now, rather than waiting until year-end when options are more limited.
If you’re unsure about where you stand with estimated taxes, this is a great time to check in with your accountant, and we’re happy to support that process every step of the way.
Need help staying on top of estimated payments?
We’re here to make things simpler. Reach out anytime to learn how Daily Money Managers like us can help you stay organized, avoid under or overpayment, and make smart moves year-round.
Jeremy Zizmor is the founder of Assurance Family Partners, a company whose mission is to assist and empower individuals and families who need help managing their personal day-to-day finances. He is responsible for running all facets of the business.
