- Joined
- Jan 19, 2018
So he maybe did some estimated payments during 2020, but it looks like he hasn't been making them during 2021 (edit: or at least since March, which may have been a payment toward tax year 2020), right? So he's facing a big lump tax payment (unless he's recently made some huge estimated payments) for tax year 2021, yeah?So the estimated payments would probably be accurate. The estimated amount for Phil would most likely go off of the previous year and he would also have Self Employment taxes (which he would be able to deduct half of for his income once it flows through to his 1040). He probably won't get in trouble for having a low estimated payment for his taxes but he will end up owing a lot of money.
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