Avoiding getting caught off guard by estimating your tax bill
Shortcut - just use the "Federal Withholding - Taxable Wages" amount which represents how much wages are subject to federal tax (i.e., after pre-tax deductions).
curious how this factors in the tax underpayment penalty, especially in the years when income is less predictable (with volatile stocks)
https://www.irs.gov/payments/underpayment-of-estimated-tax-by-individuals-penalty
Shortcut - just use the "Federal Withholding - Taxable Wages" amount which represents how much wages are subject to federal tax (i.e., after pre-tax deductions).
curious how this factors in the tax underpayment penalty, especially in the years when income is less predictable (with volatile stocks)
https://www.irs.gov/payments/underpayment-of-estimated-tax-by-individuals-penalty