Pregunta
Joanna is self-employed and must submit estimated quarterly tax payments. Her predicted total tax liability for the current year will be
withholdings are
by four. What is a good estimate for Joanna to use for her quarterly payments?
Answer
Keyboard Shortcuts
withholdings are
by four. What is a good estimate for Joanna to use for her quarterly payments?
Answer
Keyboard Shortcuts
Ask by Floyd Lawson. in the United States
Jan 07,2025
Solución de inteligencia artificial de Upstudy
Respuesta verificada por el tutor
Responder
Joanna should estimate her quarterly payments to be $2,426.75.
Solución
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Como
Beyond the Answer
To estimate Joanna’s quarterly payments, we first subtract her current withholdings from her total tax liability:
Now, as a tip, it’s crucial for Joanna to keep up with any changes in her income or expenses throughout the year to adjust her estimated payments accordingly. Overpaying can lead to a refund, but it means she’s missing out on her cash flow potential! Also, she should remember that maintaining proper records helps avoid any mistakes, such as miscalculating her withholdings or estimated payments.
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