Purron
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Nov 23, 2007
- Messages
- 5,596
My husband and I had lots of changes to our finances last year including me claiming social security. As a result of these changes, we didn’t have enough withheld and had modest underpayment penalties from the Feds and Commonwealth of Virginia. We’d like to avoid penalties next year. Our income is primarily from pensions, social security, and investments. What’s the best way to prepay taxes to the Feds and Virginia to avoid future penalties? Looked at the options from the IRS and Virginia and are not sure of the best way to proceed. We could increase withholdings from one of our income streams, set up a payment automatically from our checking, or just send in advance payments. Perhaps we’re missing another option. What say the experts around here?
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