plenty of information available on the web to figure your estimated tax Safe Harbors
but this spreadsheet program actually calculates your absolutely least
quarterly installment tax payments to avoid any underpayment penalties for
the form 2210 AI Annualized Income Method, without estimating full year
income. It is the ultimate Safe
Harbor for the Self
Employed, or anyone whose income fluctuates, or who has unexpected gains,
particularly from December Mutual Fund distributions or large early year
Deductions or Loss Carryovers. It still uses your prior year's tax as a Safe
Harbor, but 90% of the current year's tax is calculated each quarter from
your ACTUAL quarterly taxable income, NOT an estimate of what you may or may
not do for the full year. When the year's over we use your current year's
actual tax if it produces lower results. Take the estimate guesswork out of
your "estimated" taxes.
YOUR ANNUALIZED INSTALLMENTS AS THEY COME DUE USING YEAR 2012 TAX RATES or
REDUCE YOUR PENALTY FOR LAST YEAR.
Pricing---FREE--Pay nothing in advance for the 2012 full year income tax
calculator (also calculates 2011, 2009 and 2010 taxes), Safe Harbor
Calculator and first quarter Annualized calculator, and only $18 to register
for 2nd, 3rd and 4th quarter AI computations and update and revision
notification. Use it also to check your other tax program, calculate your
1040, and/or estimate your current year's taxes before your regular tax
program is available.
. You'll find this QITC program perfect
for those "what-if" situations and/or estimating year 2012 income
taxes including the exercise and/or sale of ISO options as they impact the
AMT. There's even an "AMT Guage" that
re-calculates AMT as you change input and/or show how close to creating AMT
you are for changing inputs.
- Stop paying
penalties for underpayments. The QITC program computes the minimum
payment on any safe harbor or the Annualized Income Method to avoid any
- Stop making
interest free loans to Uncle Sam.
- Input your data
directly to the numbered lines of the 1040, Schedule D and A and other
credit, tax and deduction forms and worksheets we calculate, and enter
your tax status, carry-forwards and AMT adjustments. Everything
else is calculated for you and displayed as you would enter it on all
the forms and worksheets.
- No supporting
detail is necessary. The spreadsheet accepts your line totals, or
you can enter individual items for each 1040 line, or construct your own
custom input cells for just your personal items of income and
deductions, taxes, credits, etc.
- Ideal layout for
accepting the output from financial programs without having to input all
- Calculates the
AMT, TMT, Child Tax and Educational Credits, Schedule D Tax, Schedule A,
, including State Sales Tax Tables, and high income limitations,
multiple businesses, self-employed Social Security Tax ( SE reduction in
2011 and 2012 ) and the health insurance deduction, taxable Social
Security, and for any tax status. Accepts any "Other Taxes",
any credit, makes proper credit limitations, accepts all 6251 (AMT)
adjustments and calculates the entire 6251 and provides additional
Schedules D for AMT adjusted lines. You can make an adjustment
entry for anything the QITC hasn't done.
- Calculates the
penalty (in case you didn't follow our advice).
- Calculates and
displays lines of Forms 1040, 2210, 2441,3800, 4952, 4972, 6251, 8615,
8801,8812, 8814, 8853, 8863, 8880, 8889,Schedules A including State
Sales Tax deductions and Phase-outs, D, L, M and H, and worksheets, all
calculated quarterly to support your minimum installments, and for
your final return.
"toggles" to enter or restrict current year's tax from Form
2210 calculations, and averages withholding or applies it when
it's deducted for the maximum reduction of installment payments or to
develop late-year withholding strategies. Separate
"toggles" for W-2 and 1099 withholding. Instantly see
the affect on every installment.
- Uses the
"last year's safe harbor" method if it is lower and displays
it separately for comparison.
corresponding year-end input cells for 1099, K-1 and W-2 information in
order to check your quarterly input, check against your tax program, or
compute your own final 1040. Displays the difference between your
quarterly totals and final totals, item by item on all worksheets and
multiple clients' returns for preparers that Zip to less than 150K each
and can be saved to disk, floppy, FAXed,
e-mailed, or printed.
- Free technical
support on the Internet. For a program that will do all that expect it
to look complicated, but you can just ignore all the lines, forms and
worksheets that don't apply to you. Use your last year's 1040 as a guide
to which entries you need this year, type in the cumulative totals and
we do all the calculating for you, displaying every line of every form
- Free revisions
for each year if the IRS changes their forms and rates or if we provide
calculations for more supporting forms.