msg. - '2010 estimated tax $300 < threshold $1000.?
Message for suggestions: "2010 estimated tax of $303 was less than the estimated threshold of $1000" What does that mean?
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bqvhfghlur36jyacfA8pyY
02/18/10 9:44am PST
Viewed by asker 06/08/11 5:15am PDT
Viewed by asker 06/08/11 5:15am PDT
2 Replies
Accountant Man
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Questions answered: 10671
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Accountant Community AllStar
Advisory council of Accountant community power users.
02/18/10 11:42am PST
It means that you have to read the instructions for the 2210 penalty form regarding "required estimates."
If you use Pro Series Basic I might not be able to help you. If you use Turbo Tax I might refuse to help you. All others, watch out! ;-)
09/15/10 4:11pm PDT
Latest post
The solution
You may have figured this out already, but Amy-in-PA answered on another thread:
Amy-in-PA
Accountant Allstar 01/22/09 8:26am PST
It's probably not a concern, but Lacerte will always let you know that it calculated an estimated tax, compared it to your threshold, and advise you why it's not telling the client to pay estimated tax. This means the program is working the way it should. Alternatively, you can view it as a wake-up call to change your threshold (at least for a particular client) to some lower figure if you thought it advisable to force that client to pay little tiny estimates regardless of Federal or state thresholds.
