How to Calculate U.S. Estimated Tax?
If you want to calculate your U.S. estimated tax for the year, you should calculate it based on your expected Adjusted Gross Income (AGI), taxable income such as capital gains, wages, rent, interest, etc. inside and outside of the United States, taxes, deductions, and credits of last year.
If the taxpayer is uncertain whether the estimated tax calculated by yourself is correct, or your income is changed or very different compared to last year, you can provide your accountant with your estimated income for the tax year. The professional accountant will help you to calculate your annual estimated tax to avoid the underpayment penalties.
Read more: Who Should Pay Estimated Tax? What Are the Advantages of Estimated Taxes?
USCPA Sophie Luo (羅霞) reminds you that if you do not pay your taxes on time during the tax year, you may face penalties from the IRS. Even if the taxpayer gets refund when filing the tax return, you may also face the penalties if you do not pay enough tax through withholding and estimated tax payments in advance and in time.
If you want to plan your taxes further, please contact us at the
USCPA Sophie Luo (羅霞) +886 980919600
or Email: ustaxproservice@gmail.com
Also welcome to visit our website: https://www.ustaxproservice.com
(USTAX Service LLC)