Your client wants to avoid any penalty for underpayment of estimated taxes by making timely deposits. Determine the amount of the minimum quarterly estimated tax payments required to avoid the penalty. Assume your client's adjusted gross income last year was $140,000.
A) $7,650
B) $7,750
C) $8,750
D) $11,000

Question

Your client wants to avoid any penalty for underpayment of estimated taxes by making timely deposits. Determine the amount of the minimum quarterly estimated tax payments required to avoid the penalty. Assume your client's adjusted gross income last year was $140,000. 
A) $7,650 
B) $7,750 
C) $8,750 
D) $11,000

Quizplus · Accepted Answer

The Answer of Your client wants to avoid any penalty for underpayment of estimated taxes by making timely deposits. Determine the amount of the minimum quarterly estimated tax payments required to avoid the penalty. Assume your client's adjusted gross income last year was $140,000. 
A) $7,650 
B) $7,750 
C) $8,750 
D) $11,000

Your Client Wants to Avoid Any Penalty for Underpayment of Estimated