Be mindful that if/as your income increases, you might need to pay 110% of your prior year taxes to stay in "safe harbor"...Contributing more to a 401K, either traditional or Roth, doesn't increase your taxes. Probably some other reason such as changing the contributing from a traditional to a Roth.
I have the same question, but I believe (maybe hope) as long as you have paid the difference by 4th quarter, then you won't be penalized. But to be safe I am making up the difference every quarter so that I am on target to 100% of last year's taxes paid.
(See my other post above)Statistics: Posted by SnowBog — Wed May 08, 2024 9:44 pm — Replies 10 — Views 352