Question
higher W-2 withholding to avoid estimated payments
wife paid w-2 income about $168k, I am self-employed with about $200k schedule C....prefer to increase her withholdings to have her employer pull the total taxes for the year out (hers and mine) without needing to separately pay estimated tax payments. Is that allowed and do we avoid the underpayment penalties? Plan is for her to withhold approximately $66k in taxes which is about 110% of our previous year's taxes due....again, prefer to have employer withhold total tax for the household and not pay any estimated throughout the year. Thank you!
