I had a really great year last year, my best ever. I also used quickbooks so I knew how much tax I would be paying.
Imagine my shock when after doing my tax return nice and early, I had an extra 2.5k tax added on!
Last year's tax plus 50% of next years predicated tax.
I googled and seems to be normal but I have Never heard of this, and I've been doing my own taxes for about 3 years.
I find it so confusing, I have to pay last year's tax and half of next years tax by Jan 21, and then the rest of the next years tax in July 21. So does that then mean in Jan 22 I'll be paying just 50% of 2023s tax?
Anything I can do to change this maybe?
My brain hurts, this is when I think I need to get an accountant, it was so much simpler before when I worked fewer hours!
Imagine my shock when after doing my tax return nice and early, I had an extra 2.5k tax added on!
Last year's tax plus 50% of next years predicated tax.
I googled and seems to be normal but I have Never heard of this, and I've been doing my own taxes for about 3 years.
I find it so confusing, I have to pay last year's tax and half of next years tax by Jan 21, and then the rest of the next years tax in July 21. So does that then mean in Jan 22 I'll be paying just 50% of 2023s tax?
Anything I can do to change this maybe?
My brain hurts, this is when I think I need to get an accountant, it was so much simpler before when I worked fewer hours!