S0 vs S1

[myrdale]

Just to refresh and update you all:

Up through 2019, I had always filed S0. I paid a lot in, and got a lot back.

In 2020, I filed S1. I ended up owing $1,200.

For 2021, I increased the amount being withheld by $100 per month for federal, and $10 per month for state.

I just filed my taxes yesterday. I am getting $300 back from the government and $30 back from the state. While my goal may have been $0 net owed, I am still rather pleased with the situation as is. I am not sure it's really worth tweaking with things at this point to try and push it lower.

[Petunia 100]

Just to refresh and update you all:

Up through 2019, I had always filed S0. I paid a lot in, and got a lot back.

In 2020, I filed S1. I ended up owing $1,200.

For 2021, I increased the amount being withheld by $100 per month for federal, and $10 per month for state.

I just filed my taxes yesterday. I am getting $300 back from the government and $30 back from the state. While my goal may have been $0 net owed, I am still rather pleased with the situation as is. I am not sure it's really worth tweaking with things at this point to try and push it lower.

Oh yeah, I would call that good. Close enough.

[disneysteve]

I think $500 plus or minus is the sweet spot. It’s tough to get closer than that because things change year to year. There might be 27 pay periods. Or investment income may be higher or lower. Or there may be a change to the tax system. It’s impossible to predict to the penny.

Good job.

[LivingAlmostLarge]

I owe $236 right now. Unsure if we are done but getting close!