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Old 04-16-2015, 12:04 AM
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Estimated Taxes for New York


I moved to New York in the middle of last year. I started working in Connecticut shortly thereafter. My employer only takes Connecticut taxes out of my paycheck and will not take out New York taxes.

I went to H&R Block this year to have my taxes prepared and ended up owing about $1500 in taxes to New York based on being here about five months. To avoid a similar situation in 2015, my tax guy told me to have an additional amount withheld from Connecticut. He did not mention estimated payments.

In fact, I just learned about estimated payments today and am slightly confused by the advice I received. Why would I withhold the additional amount from CT when that amount should be going toward estimated payments? Won't the tax professional's advice only cause me penalties and interest?

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