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Retirement tax questions
@jcreynolds183 wrote:
Per the clarification I received above, it looks like I would need to hit the 110% mark, and I don’t expect I’d accomplish that by my weekly paycheck withholdings as my normal income should be approximately equal to the prior year.
Instead of making estimated tax payments, you could give your employer a new W-4 to increase your withholding. After you get your first paycheck in 2023 you can use the Tax Withholding Estimator on the IRS web site to figure out what to put on your W-4 form. Don't forget to change it back at the beginning of 2024.
November 7, 2022
6:41 PM