i’m starting the year
by googling “IRS federal tax rate 2022”
great, my formula for calculating tax payments was wrong
i was just thinking “my cashflow is a bit low, i wish i had left more money in the checking account. a bit nervous actually”
in the meantime overpaid 5k in taxes in december bc of my faulty formula, just found out now :yonghuh:
maybe if I do my taxes early this year i can get it back
actually after reviewing the formula logic, formula seems correct. it generates the correct amount for december’s payment
why did i pay double that :yonghuh:
Yongho Kim 3:45 pm on January 2, 2022 Permalink |
oic now what i happened. after early december when i made my Q4 1040-ES payments, I decided to defer a bunch of invoices to january, which made them 2022 income instead of 2021 income – the difference in income seems to be the key factor in the tax difference.