Solved: How much must paul pay in estimated taxes to avoid penalty, Accounting Basics

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How much must paul pay in estimated taxes to avoid penalty

Question - Paul has the following information:

agi for 2016. 155000

withholding for 2016. 24000

total tax for 2015 29000

total tax for 2015 33793

a. How much must Paul pay in estimated taxes to avoid penalty

b. If Paul paid $1000 per quarter would he have avoided the estimated tax penalty?

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Accounting Basics: How much must paul pay in estimated taxes to avoid penalty

Reference No:- TGS02433833

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