The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  https://boards.fool.com/i39m-concerned-that-this-is-going-to-34295048.aspx

Subject:  Re: oops...estimated taxes? Date:  9/14/2019  3:19 AM
Author:  aj485 Number:  129559 of 129719

I'm concerned that this is going to necessitate an estimated tax payment I had not anticipated last April. Is there any special procedure to accomplish this now and avoid some (or all) of the penalty?

I agree with the solutions that have already been given to you. That said, I would point out that if you would otherwise meet a safe harbor, like paying 100% of 2018's tax liability (110% for income > $150k) in withholding and/or estimated tax payments for 2019, there won't be a penalty, even if you don't make an estimated tax payment.

AJ
Copyright 1996-2019 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us