The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Estimated Payments||Date: 11/27/2012 8:36 AM|
|Author: TMFPMarti||Number: 116987 of 119673|
So, if your AGI is under $150K, then all you have to do is make 4 equal payments that total the amount of your tax for the prior year? That seems easy enough, assuming I understood correctly.
Just one tense change. If your AGI was under $150K....
So, for 2012, if your 2011 AGI was under $150K, your 2012 safe harbor is 2011 tax paid in four equal, timely 2012 ES payments.
Note that there are other safe harbors, but I won't muddy the waters by mentioning them. That's why we have Pub 505.
Rule Your Retirement Home Fool
|Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|