I am a full time payroll employee and I'm tracking my taxes owed and any extra owed that I need to pay by January 15 through IRS direct pay to avoid underpayment penalty.
Question: I make over 110% and will owe additional Medicare tax and NIIT tax. Do I need to include those 2 factors in the "90% of 2024 tax owed" calculation? Or can I simply calculate as 90% of taxes owed on payroll and investment income?
Please advise.
Question: I make over 110% and will owe additional Medicare tax and NIIT tax. Do I need to include those 2 factors in the "90% of 2024 tax owed" calculation? Or can I simply calculate as 90% of taxes owed on payroll and investment income?
Please advise.
Statistics: Posted by longlife245 — Mon Dec 23, 2024 11:11 am — Replies 2 — Views 90