1040ES 2023/Carlos Pueblo

 1040ES 2023/Carlos Pueblo

It's time to pay 1040ES for 2023. I know that I am late, today is 01/16/2024; however, I am doing my best that everybody wants me to pay nowadays. I wrote a check of $10,000 to IRS and previously two of my pension funds withheld above $4,000 from my minimum distribution retirement funds. I still need to pay the balance once I file my income tax before 04/14/2024 when I shall be in Taiwan, Japan, and on the ship across the Pacific Ocean. If I don't make it, I shall be penalized for the delay and interest.

I am not complaining that it's better to make more money to pay taxes than make no money to worry about insufficient funds to make the my ends meet and pay no taxes. Last year, the IRS charged me $500+ for the interest acuminated for the tax I owed. That is the reason why I pay attention to the 1040ES, of course, I am still not paying enough of it. I always try to keep my money in the market to make more profit than the tax interest burden.

I don't know how the American rich to avoid paying taxes such as Trump. How could he pay not federal income tax for more than 10 years? How can the rich pay less than a regular citizen? I believe that the tax experts mention about the percentage of the tax not the total amount of taxes, It means that the rich pay less percentage of their tax versus their income, not means the rich pay less tax amounts than the middle income payers. Of course, lower income people pay no taxes period. I would rather paying taxes that be the poor paying no income tax.

Come to think about it. I was working in Taiwan when I graduated from the college. I was on the conscription for two years in the Army with very minimum pay and no need to file income tax. After my military service, I taught at a senior high school for one year, my Dad filed my income tax for me that I didn't even worry about it or knew if I had even paid something like 1040ES in Taiwan. On the second year, I taught at a junior high school and I didn't think that I was required to file an income tax at that time. It's all changed after I came to the U.S. especially after I worked.