Estimating taxes

[cvsvm2007]

Friends,
I am planning to file my taxes on Oct. How do I estimate taxes so that I do not pay penalties? I tried TT to estimate and it is not detailed for this. Can you please suggest any online tax estimators which takes into all details?
Thank You
CVS

[Jack FFR1846]

Like what details?

I use this: https://www.irscalculators.com/tax-calculator which I find quite simple and very quick to vary things to get some "what if" answers. Lots of stuff gets grouped together if it's treated the same tax wise. I do use it to help figure out quarterly estimated tax payments.

[Van]

I do the safe harbor of 110% of last year's total tax due. No chance of a penalty.

[Epsilon Delta]

I do the safe harbor of 110% of last year's total tax due. No chance of a penalty.

That only works up to April 15.

Generally, April 15 is the deadline for most people to file their individual income tax returns and pay any tax owed. ...

[*]Generally, interest accrues on any unpaid tax from the due date of the return (without any extensions) until the date of payment in full. The interest rate is determined quarterly and is the federal short-term rate plus 3 percent. Interest compounds daily. Visit Newsroom Search for the current quarterly interest rate on underpayments.

[toddthebod]

I do the safe harbor of 110% of last year's total tax due. No chance of a penalty.

That only works up to April 15.

Generally, April 15 is the deadline for most people to file their individual income tax returns and pay any tax owed. ...

[*]Generally, interest accrues on any unpaid tax from the due date of the return (without any extensions) until the date of payment in full. The interest rate is determined quarterly and is the federal short-term rate plus 3 percent. Interest compounds daily. Visit Newsroom Search for the current quarterly interest rate on underpayments.

I think that's what OP is asking: how much to pay with the extension.

[ReadyOrNot]

I think you are supposed to figure out your tax with the regular tax forms or software for 2024 and pay what you think you owe. The extension is not on paying the tax, just on filing the forms.

[FiveK]

Any of the Tax estimation tools that fit your situation should give you as accurate a result as your inputs.

[cvsvm2007]

Thanks for all the responses. Sincerely appreciated.

[oldcomputerguy]

This topic is now in the Personal Finance forum (tax question).