Beth and Jay project the following taxes for the current year:
Regular tax $50,000
AMT 10,000
Self-employment tax 12,000
How much in estimated tax payments (including withholding from wages and quarterly estimated payments)should the taxpayers pay this year in order to avoid underpayment penalties under the following assumptions regarding the preceding tax year?
a.Preceding tax year-AGI of $140,000 and total taxes of $30,000.
b.Preceding tax year-AGI of $175,000 and total taxes of $48,000.

Question

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The Answer of Beth and Jay project the following taxes for the current year:
Regular tax $50,000
AMT 10,000
Self-employment tax 12,000
How much in estimated tax payments (including withholding from wages and quarterly estimated payments)should the taxpayers pay this year in order to avoid underpayment penalties under the following assumptions regarding the preceding tax year?
a.Preceding tax year-AGI of $140,000 and total taxes of $30,000.
b.Preceding tax year-AGI of $175,000 and total taxes of $48,000.

Beth and Jay Project the Following Taxes for the Current