I would like to determine if this hypothetical scenario satisfies the federal Safe Harbor Rule for tax payments:
* 2023 Tax Owed and Paid = $14,761
* 2023 Adjusted Gross Income >$150,000
* 2024 Safe Harbor Amount = $14,761 x 110% = $16,237
* 2024 Tax Payments:
* 2023 Overpayment Applied to 2024 $4,377
* 2024 Withholding Tax $5,517
* Q1 2024 Estimated Tax Payment $5,250
* Q2 2024 Estimated Tax Payment $0
* Q3 2024 Estimated Tax Payment $3,000
* Q4 2024 Estimated Tax Payment $0
* Total Tax Payments $18,144
* Overpayment of Safe Harbor Amount $1,907
* Tax Payments / 2023 Tax Owed & Paid (%) 123%
