Don’t forget if you operate a corporation your last estimated tax payment is due December 15th.

Also consider that if you are 1040 filer it may be beneficial for your the make an estimated tax payment for state income taxes before the end of the year even though it is not due till January 15th. If you can Itemize you can take advantage of a larger deduction this year and then take the standard deduction next year. If you can do this then you have taken advantage of deductions this year that may have been lost next year because they get lost under the Standard Deduction that is going to be $25,900 for couple in 2022.

You can apply the same principle to any item that can be an itemized deduction, (Medical, Property Tax, State Income Tax, Charitable Contributions). Your strategy has to consider the limit on how much state tax is deductible which is capped this year at 10,000.

If you make an estimated state income tax payment before the end of the year of $2500
that would not be itemized in 2022 but will be in 2021 and you are in the 22% marginal tax bracket you have saved $550 in federal income taxes.