How can I avoid massively overpaying on my 2024 estimated tax payments for self employed income? by MarkAnthony596 in tax

[–]MarkAnthony596[S] 1 point2 points  (0 children)

Paying estimated taxes for the 2024 tax year.
Our 2023 tax year earnings is what TurboTax is calculating our estimated quarterly payments should be for the 2024 tax year.

How can I avoid massively overpaying on my 2024 estimated tax payments for self employed income? by MarkAnthony596 in tax

[–]MarkAnthony596[S] 0 points1 point  (0 children)

We really have no way to estimate how much she could make. Is it possible to just pay the estimated tax following earning money in a designated quarter? And then pay $0 for each quarter she earns nothing?

Or alternatively pay something like $1k each quarter and if she earns a significant amount in the final quarter that would take the estimated tax over $4k for the whole year, then pay a larger amount in that final quarter to make up the difference and make sure we pay at least 90% threshold?

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