Unlike previous years, we won't need to send in a payment with our request for extension. This year, I expect that we will be getting a refund from both the IRS and our state. 2008 was our first year paying estimated taxes, and to ensure avoiding any penalties, I was conservative and paid estimated taxes at the higher end of the range.
Another difference from previous years is that we have not yet made our 2008 contributions to our IRAs. Even with an extension, we will still need to make our 2008 IRA contributions by April 15, 2009.
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This is not financial or tax advice. Please consult a professional advisor.
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