OldShooter
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I do basically this, but @pb4 is an accountant. I am not an accountant and I am lazy, so we just withhold the safe harbor amount (110% of last year's taxes IIRC).No. In late December I estimate what my total tax for the year will be and I then do a tIRA withdrawal with high withholdings for federal and state income taxes to make estimated tax payments.... but because these taxes are paid in the form of withholdings the IRS considers it as having been done ratably throughout the year for the purpose of underpayment penalties even though it happens in December.