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Reply to "Taxes on bonuses"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Question: I just received a $100k bonus withheld at 22%. Can I go ahead right now and submit an estimated payment to the IRS online which matches my tax bracket of 37%? I would rather avoid the taxes later when I file for 2023.[/quote] Yes, I would. Although the quarterly deadline for Q1 is April 15. So maybe wait until then. [/quote] We did this for 2022. My DH received a bonus at the end of the year. His employer REMOVED 22% to give to the IRS and another 5(ish) percent to give to the state. We did some fancy math involving wage income, unearned income, deductions, etc. and of course, what we had already paid in taxes. We did this for Fed and State and wrote one large check to the IRS and one smaller check to the state. [/quote] Did you do all this fancy math because you weren’t going to meet the safe harbor amount? [/quote]
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