asked

I need help figuring out what I should pay in 2018 estimated taxes. I file married filing jointly and am the only income earner. I am a partner in an LLP with a gross income of $346,000, AGI of $332,500 after subtracting half of my SE Tax, and I plan to take the standard deduction of $24,000. My taxable income is $308,500. What will be my tax before SE tax is added, and is the 199a deduction subject to AMT? Additionally, if my taxable income exceeds $315,000, is there a formula for the phase-out, and could my after-tax income be lower than if I made $314,999?

March 27th, 2023

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