Originally Posted by jennem
We will have higher salary income at the same withholding rate, so our withholding for 2014 should definitely exceed our withholding for 2013.
So that means no penalty if I don't make estimated tax payments this year under "safe harbor," correct?
then correct; i said IF, " If your AGI for 2014 ‘d be more than $150K , substitute 110% for 100% in (2) for 2013 above.
"To avoid the penalty, you will need to pay in "at least 90% of the tax for the current year,2014, or 100% of the tax shown on the return for the prior year, 2013,whichever is smaller