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Thread: Anyone know about taxes?

  1. Mombie.
    Jensscrnnm's Avatar
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    #1

    Anyone know about taxes?

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    I cannot find the answer to what percentage of estimated taxes one must pay through withholding.

    HELP!



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    jesskuhmarie's Avatar
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    #2
    Tax Topics - Topic 306 Penalty for Underpayment of Estimated Tax

    Maybe this will help? It explains what you have to pay through withholdings or estimated tax payments throughout the year in order to not have to pay an underpayment penalty. Looks like you have to owe no more than $1,000, pay 90% of what you owe, or pay 100% of the previous year in order to avoid an underpayment penalty. From my understanding, no certain amount has to be from withholdings because you can pay quarterly estimated tax payments instead.
  3. Mombie.
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    #3
    Thank you so much!!



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