My income jumped because of a IRA to Roth conversion. When calculating the safe harbor estimated taxes for next year, does the IRS allow me to not include the Roth conversion amount as part of my safe harbor estimate?
If the recommendation is to not do a safe harbor estimate but to do an estimate on actual income, the way to calculate estimated taxes is to use the tax rate chart based on tax bracket (e.g. 24% for income between $89k - 170k). But most of my income is complicated. I have dividend income and a small business that has deductions. Do I basically have to do a complete tax return every quarter to figure out my taxes?
Does Turbo Tax CD help with the quarterly payments through out the year?
