The "safe harbor" provision for underpayment of taxes says you don't have to pay a penalty if the amount of your withholding and estimated tax is at least as much as you paid the previous year, OR if withholding/estimated tax is at least 90 percent of your total taxes, OR if you end up owing the IRS less than $1000.
I'm going to assume that your off-farm job accounts for most of your income. If you got money back on your 2012 return and you haven't changed your withholding, you're probably OK. But if you owed the IRS for 2012 and you didn't increase your withholding, you might have a penalty to pay if you don't change something. It's a little late in the year to increase your withholding, but if you think you might owe something I suggest you go ahead and do so now. It will be less painful than making a big estimated tax payment in January.
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let’s make one more addition to our series on hydraulics. I’ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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