Aaron Parecki

technically the IRS doesn't want you to have to owe a chunk at tax time, which is why you're supposed to file quarterly. but also yes it's a "good" thing in that owing means you didn't loan your money at 0% to the IRS for the year.

I did, but I made too much money 😅

Write EVERYTHING off lol

For real. You could have the money invested in the market or whatever. If you owe more than a certain amount though, you are penalized. So it is important to pay estimated quarterly taxes if you anticipate oweing a lot

I thought it was a good thing to owe taxes instead of having some refunded or paying early? Essentially, avoiding giving the government a free loan or money early that could be invested. Not a tax guy so I may have misunderstood.

Don’t give them a free loan though if you can help it

or both, then enjoy a nice refund check next year instead!

Or just pay quarterly taxes if you prefer to do it that way.

(this is me speaking from experience of having just written a *very* large check to the IRS last week oops)

You should be able to just fill out a new W4: irs.gov/pub/irs-pdf/fw… Its the form where you claim 1,2,3,4, etc. Just copy it like you did before then add additional withholding like say 100-200 a pay check etc.

I don’t know if I can do that with my current employeer easily. Taking the kick in the teeth all at once is probably the road of least resistance 😅

yes tbh its perfect. that way your pay check decreases some. you just tell your spouse that benefits etc cost went up. Then you can spend full adsense on toys and not worry about taxes.