Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (12) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: MakingTrax One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121572  
Subject: Re: Estimated Payments Date: 11/27/2012 10:42 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 5
ResNullius asks: "But how do you know the exact amount of 2012 withholding when you estimate your 2012 estimated payments in April 2012?"

You should be able to look at one of your DW's paystubs from the beginning of the year (i.e., from Jan 2013) and estimate her total annual withholdings for 2013. Assuming that all her paychecks are generally equal, just take the amount from that check times the total number of paychecks per year). If her paychecks are of varied amounts, you could use the total withholdings amount from last year and adjust up/down based on her projected income for this year.

Another option to consider (espeically if you don't want to stress over remembering the quarterly payments)......you may be able to simply avoid the quarterly estimated payments by adjusting DW's withholdings. She can submit a revised W-4 and request that a specific additional amount be withheld from each check. Of course, this only works as long as the amount of withholding does exceed her entire paycheck ;-).

Making Trax
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (12) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement