Author Topic: quarterly estimated taxes - 150k safe harbor?  (Read 1202 times)

Financial.Velociraptor

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quarterly estimated taxes - 150k safe harbor?
« on: December 15, 2016, 03:18:19 PM »
Does anyone know how the 150k safe harbor for making equal estimated quarterly payments works?  I won't hit it this year but might in future years.

SeattleCPA

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Re: quarterly estimated taxes - 150k safe harbor?
« Reply #1 on: December 15, 2016, 03:28:43 PM »
Do you mean the rule that says if you pay 100% of the tax owed on last year's return as your estimated tax payments this year, you're okay...

UNLESS you make over $150K in which case the rule is you need to pay 110% of the tax owed on last year's return...

 

Wow, a phone plan for fifteen bucks!