Will paying 110% prior year estimated tax protect me if I earn $1 million?
September 23, 2011
Date: Mon, 9 Nov 2009
From: Tim
With respect to the prior year exception for California estimated tax purposes, does the 110% prior-year exception still apply if you expect your 2009 AGI to exceed $1 million?
Thanks,
Tim
Answer
Date: 7 Dec 2009
Hello Tim,
No. It stinks, doesn’t it?
Please send your questions to mgray@stockoptionadvisors.com. I will answer selected questions in this newsletter.
Good luck!
Mike Gray