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Self employed
Hi There:
Theoretically there should be no penalty if you are making timely estimated tax payments, (which is calculating your tax liability and and making a timely and appropriate payment). If you are already doing this, then it might be a situation of employing the annualized installment method to avoid estimated tax penalties. In the below link see annualized installment method.
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‎August 30, 2023
10:33 AM