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How much is sam first quarter payment

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Sam's 2014 tax liability was $8,000. He estimates his annual tax liability in 2015 to be $10,000 (earned evenly through the year). He has no taxes withheld because he is self-employed. How much is Sam's first quarter payment for 2015? Show your math or no credit, even if it is correct.

This calculation is for income taxes ONLY. Assume Sam wants his payment to be as small as possible but still enough to avoid penalties and his AGI is under $150,000 in all years.

Sam's 2014 tax liability was $8,000. He estimates his annual tax liability in 2015 to be $10,000 (earned evenly through the year). He has no taxes withheld because he is self-employed. How much is Sam's first quarter payment for 2015? Show your math or no credit, even if it is correct.

This calculation is for income taxes ONLY. Assume Sam wants his payment to be as small as possible but still enough to avoid penalties and his AGI is under $150,000 in all years.

Reference no: EM132092349

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