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The quarterly tax trick I keep seeing people mess up
I notice so many people on here talking about quarterly taxes like they just set aside a rough guess and call it good. After I underpaid by $1,200 back in 2021 and got hit with a penalty from the IRS, I started using the actual forms and instructions from the IRS website. Has anyone else found that the safe harbor rule makes this way simpler than most advice suggests?
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jamesc792mo ago
Yeah exactly, 110% of last year's total is the real deal. That safe harbor rule saved me after I messed up big time in 2021. I just take my previous year's tax bill, add 10%, and split that into four equal payments. It's way less guesswork than trying to figure out your exact income every quarter.
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the_ben2mo ago
Man I wish I was that organized, I just throw money at the IRS and hope for the best.
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smith.lee2mo ago
Heard a tax pro say safe harbor works great if you just pay 110% of last year's total.
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