Hi-
I checked with my Financial Advisor and he stated it was best to check with a Tax Advisor. In simple terms, I'm looking for a solution to quickly and efficiently estimate my Federal and State income quarterly tax liabilities in order to accurately pay the quarterly amount due. Both the IRS and Illinois DoR require estimated payments are sent on around January 15, April 15, July 15, and October 15.
I have one brokerage account that generates income and with quarterly returns that fluctuate significantly during the year, so it's difficult to estimate the taxes per quarter. Turbo Tax automatically calculates taxes due for the year using the Document ID from the year end statement, which is great, but would to have something like that in order to pay quarterly taxes more accurately.
Any suggestions would be welcome.
Thank you.
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