I am a self-employed consultant as of this year, so I am responsible for both income and self-employment taxes. If I cover all income taxes due with estimated taxes during the year, but do not include funds to cover SE taxes until I file in 2009, will it appear on my filing next April that I have under-paid, incurring penalties and interest?

If you have more tax withhelf, you get a refund during income tax season. If you get more money on your paycheck you end up paying taxes. I don’t want that to happen to me so on my VA tax forms, what do I claim?

"If you paid state and local income taxes in 2007 for a prior year (such as taxes paid in 2007 as a balance due on your 2006 state income tax return), include this amount as other state and local income taxes paid.

Other state and local income taxes: $____"

While filing online, I got an alert here. I did not enter anything in. What exactly is the question asking?

Are property taxes, sales taxes, and state income taxes equitable or inequitable taxes to fund education and what are the social and financial implications of a state lottery?

We live in california but could not afford to buy home here. So is it okay to buy home in colorado or texas and rent them out?. My husband feels its not a good idea since we will be gettting rental income and have to pay taxes on them. So at the end there will be no savings. Our job doesn’t permit to move cross country as of now. This idea is just for investment purpose, where we can sell the properties later. Any input is greatly appreciated.