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No, estimated payments are only for when you are not able to withhold the correct amount. The program is just suggesting it based on last year's income.
With the changes in the tax laws, it might not hurt to determine how much your tax liability will be for the federal with TaxCaster tax calculator. You could change your w4 for work/ pension, if there might be a shortfall.
No, estimated payments are only for when you are not able to withhold the correct amount. The program is just suggesting it based on last year's income.
With the changes in the tax laws, it might not hurt to determine how much your tax liability will be for the federal with TaxCaster tax calculator. You could change your w4 for work/ pension, if there might be a shortfall.
Thank you so much for the clarification, I really appreciate it. We have our allowances set fairly high, so we should be good, but I will check out the calculator for reassurance since it did change this year. Thank you again, I’ll sleep better tonight not worrying about it!
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