When do you pay in full?

[Heidi13]

Balance is paid the day it is due by credit card.

[TruckerDave]

Do you pay your taxes 6 months early?

Just wondering if you pay all those other things whenever you feel like it or only when they are due?

 

As someone who is self employed and pays quarterly taxes.....the answer to this is YES. SmartA%%:rolleyes:

[ldubs]

As someone who is self employed and pays quarterly taxes.....the answer to this is YES. SmartA%%:rolleyes:

 

Im not sure I'm following. Are you saying as a self employed person you are voluntarily paying taxes quarterly?

[sloopsailor]

As someone who is self employed and pays quarterly taxes.....the answer to this is YES. SmartA%%:rolleyes:

 

I am also self employed so I know you don't need to pay them 6 months in advance. You are expected to make four quarterly payment of estimated taxes, one every THREE months. And this is an estimate of possible taxes owed, not actual taxes. And I won't use a vulgarity to make my point, either. :rolleyes:

[ldubs]

We pay lump sum when due. I do know someone who makes voluntary installment payments because they recognize they probably lack the discipline.

[TruckerDave]

...

[TruckerDave]

...

[ldubs]

I am also self employed so I know you don't need to pay them 6 months in advance. You are expected to make four quarterly payment of estimated taxes, one every THREE months. And this is an estimate of possible taxes owed, not actual taxes. And I won't use a vulgarity to make my point, either. :rolleyes:

 

Thanks. That was my understanding. But I was never self employed so do not have first hand experience. Hence my follow up question. So, I guess because the quarterly estimates are not optional, then they are really not being paid before they are due.

[c-boy]

In Full upon confirmation of booking.

[leaveitallbehind]

In Full upon confirmation of booking.

 

Confirmation of booking to me means with the initial deposit at the time the booking is made. Are you saying you pay in full with at the time of booking? Sorry - confused.

[c-boy]

Confirmation of booking to me means with the initial deposit at the time the booking is made. Are you saying you pay in full with at the time of booking? Sorry - confused.

That is correct.

[leaveitallbehind]

That is correct.

 

To each his own and if that is your choice, then that is what works for you. But do you mind saying why you do that instead of waiting until the due date with final payment? How far out do you book your cruises?

[c-boy]

I don't want to mislead you. When on board the wife will put a down payment on another cruise. Once she and I agree on what, where, when and booking/reservations are made only then do we pay remaining amount. We can afford it, that amount money isn't going to be missed in that short time span. I'm a one and done person with payments. Our agenda has us down for two cruises 14 day's + . With my cardiac event that's as far out as i wanna go.

[sloopsailor]

Thanks. That was my understanding. But I was never self employed so do not have first hand experience. Hence my follow up question. So, I guess because the quarterly estimates are not optional, then they are really not being paid before they are due.

 

According to the IRS:

 

"Estimated tax is a method of paying tax on income that is not subject to withholding tax. This can include income from self employment, business earnings, interest, rent, dividends and other sources.

"The IRS requires estimated tax to be paid quarterly, typically in 4 equal installments. If you underpay your estimated tax, you will have to write a bigger check to the IRS when you file your tax return. If you overpay your estimated tax, you will receive the excess amount as a tax refund (similar to how withholding tax works)."

Estimated taxes are paid on income being generated for the current taxable year. Since the actual final income is unknown, estimates are used instead. My accountant prints out the appropriate IRS forms with the amounts to be paid each quarter based on last year's income. I simply write a check, pop it and the form into the envelope she provides, and mail it before the quarterly due date. Every time I pay a quarterly estimated tax, 25% of my taxes due next April have hopefully been paid.

 

Some people don't pay them as required, and usually get away with it, especially if the income for the year is low. But not doing so can lead to future audits.

Edited October 6, 2018 by sloopsailor

[leaveitallbehind]

I don't want to mislead you. When on board the wife will put a down payment on another cruise. Once she and I agree on what, where, when and booking/reservations are made only then do we pay remaining amount. We can afford it, that amount money isn't going to be missed in that short time span. I'm a one and done person with payments. Our agenda has us down for two cruises 14 day's + . With my cardiac event that's as far out as i wanna go.

 

We frequently book on board as well and can also afford to pay the full amount when booked. But we don't see any reason to give any more than the required deposit at that time, or any more of our money to the cruise line any sooner than required with the final payment date - which is still 90 days prior to the departure date. Soon enough to pay in my mind. I'd rather keep my money in my pocked instead of theirs.

 

To each his own and what works for us doesn't have to work for others. :)

[OCruisers]

We make our final payment when it is due.

No need to pay it off in advance. ;)

[Go-Bucks!]

I also make Final Payment about a week before it's due....my TA let's me know when that date will be. I don't use credit cards so I pay deposit and final with a debit card.

 

For those who pay the entire amount in advance, are you able to get price drops if they happen between deposit and Final Payment? I didn't think you would be eligible for drops if you're all paid up. Like to hear from those who do this.

[leaveitallbehind]

I also make Final Payment about a week before it's due....my TA let's me know when that date will be. I don't use credit cards so I pay deposit and final with a debit card.

 

For those who pay the entire amount in advance, are you able to get price drops if they happen between deposit and Final Payment? I didn't think you would be eligible for drops if you're all paid up. Like to hear from those who do this.

 

My understanding is that the final payment date set by the cruise line is the date by which any price changes can and must be made, regardless of any prepayment of funds prior to that. In other words, you should still be able to take advantage of a price decrease (and remain protected from a price increase) even if you have conveyed the full original payment amount prior to the actual prior payment due date.

 

Similarly you can cancel without penalty prior to the final payment date regardless of actual funds on deposit at the time with the cruise lines. Of course rules can vary between cruise lines.

 

BTW our TA also processes final payment a few days prior to its due date as well to assure smooth and timely transaction and if there is any problem with the card used, etc., to allow enough time to resolve that prior to the final due date.

[drsel]

I also make Final Payment about a week before it's due....my TA let's me know when that date will be. I don't use credit cards so I pay deposit and final with a debit card.

 

For those who pay the entire amount in advance, are you able to get price drops if they happen between deposit and Final Payment? I didn't think you would be eligible for drops if you're all paid up. Like to hear from those who do this.

Yes, I got the benefit of a price drop after making full payment

[Underwatr]

Even if you've paid in full, the (US) reservation has the same refundability. If it's fully refundable, paying the reservation in full doesn't change the date before which it remains fully refundable.

 

If you'd benefit from a price drop before the "final payment date" it doesn't matter that you've already paid in full before that date.

[sloopsailor]

If you'd benefit from a price drop before the "final payment date" it doesn't matter that you've already paid in full before that date.

 

Other than that you now must wait for the refund to be processed on the price drop. It may take weeks before that money is returned. Which places the onus on the customer to monitor his credit car balance to make sure it actually gets refunded. Companies have been known to either refuse the refund, take their time with the refund, or screw up the process so much that it gets lost. If you ever watch a news program that has a consumer advocate on staff to help viewers resolve issues, refund problems are one of the most common issues they get involved with.

 

It is better not to pay in advance and not have to deal with refunds if price drops occur.

[Jenner9]

Other than that you now must wait for the refund to be processed on the price drop. It may take weeks before that money is returned. Which places the onus on the customer to monitor his credit car balance to make sure it actually gets refunded. Companies have been known to either refuse the refund, take their time with the refund, or screw up the process so much that it gets lost. If you ever watch a news program that has a consumer advocate on staff to help viewers resolve issues, refund problems are one of the most common issues they get involved with.

 

It is better not to pay in advance and not have to deal with refunds if price drops occur.

Carnival gave it to me in OBC, which was okay with me. That may have been after final due date though. I dont remember but I did pay it in full before then.

 

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[c-boy]

Carnival gave it to me in OBC, which was okay with me. That may have been after final due date though. I dont remember but I did pay it in full before then.

 

Sent from my SM-G950U using Forums mobile app

Jenner9 we had a similar situation a while back. A cruise was canceled by Carnival corp, they contacted us stated why the cruise was canceled and gave us options. The one we took was credit of which we still have. Now the good part of this reply is when they cancelled the cruise the options were a full refund, obc and or free cruise .

[Underwatr]

Other than that you now must wait for the refund to be processed on the price drop. It may take weeks before that money is returned.

Based on very recent experience (booked with the line and then priced the itinerary competitively) my refund for a cancellation was processed in the same billing cycle as the rebooking.

[julie3fan]

I generally pay the balance due at final payment. However, occassionally Amex will have a deal where if you pay $xx amount to a particular cruise line, they'll give you back some smaller amount as a statement credit. So I just made 2-$750 payments (my card & DH's card) and got 2-$150 statement credits back, on our May 2019 cruise. $300 off my cruise = more to spend on excursions!

 

And sometimes Princess will offer a small bonus gift card with an expiration date when you buy a gift card of a certain amount. So I'll apply that smaller gift card as payment before final, before the expiration date.

 

These seem like logical reasons to make a payment before it's actually due.