Withholding more taxes- last two months in 2014

The Federal (and most states) estimated tax payments for individual taxpayers are due quarterly on April 15, June 15, September 15 and January 15 (next year). For taxpayers who concerned about their quarterly estimated tax payments are not enough, increasing the taxes withholding from wages (or IRA distributions if you have any) at year end would be a great way to mitigate the underpayment estimated penalty. Estimate taxes calculations including tax imposed on wages, self-employment tax, 3.8% surtax and additional 0.9% medical tax.

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