Filing extensions

I need to file an extension, but I'm just getting started thru T-Tax. (1st time too). I paid no tax last year as an independent contractor and filing jointly with wife. We have rental property, investments, etc., so how should I estimate possible payment owed to IRS.

posted

Go through the Other Tax Situations section for the estimated taxes. The interview process will walk you through each income section to guide you to your estimate. You can tweek your estimates throughout the year if your income expectations change. If your spouse has W-2 income, you can also make changes to her W-4 and withhold more taxes.

See the article below for reference.

Estimated Taxes: How to Determine What to Pay and When

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