My income will be significantly more than last year and my business deductions will be somewhat less. Is there a way to take the information from my 2019 return and change the items that will be different to estimate how much more I need to pay towards estimated taxes and not get caught in a shortfall when filing next year?
There are a couple of ways when using the CD/download product installed on your computer:
From within your tax return, type estimated taxes for next year and click on jump to estimated taxes for next year. Say No to changing your W-4 and go on from there making changes in your 2019 information to be closer to your 2020 estimates.
The other way is to go to Forms Mode and click on Open Form. Type What-If Worksheet in the box and click on it and then open it. You will see how to make comparisons for 2019 or to check the box and use 2020 tax tables.
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