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Struggled between quarterly estimated payments vs just saving a bigger lump sum
So last year I had to choose between paying the IRS every 3 months or just stashing cash in a high-yield savings account and dealing with it once. I went with the quarterly route because my income fluctuates a lot - one month I'd make $3k, the next $8k from a big project... It actually saved me from a penalty when I had a surprise $12k month in September. But man, calculating those estimates is annoying. How do you guys handle the quarterly payments without losing your mind?
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noraroberts3mo ago
Are we supposed to actually enjoy calculating those estimates? I just slap a random number in and hope the IRS doesn't come knocking with a baseball bat.
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sanchez.julia3mo ago
Wait, you're saying you just throw any number in there and hope for the best? That sounds like a good way to end up in a mess if they ever decide to audit you. I always try to do a rough calculation, even if it's just a ballpark figure, so I at least have something to back up my estimate.
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paige_bell813mo ago
Right? Isn't that what TurboTax is literally for?
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