Taylor’d Finance Blog
Welcome to my blog! I’m Taylor Ledbetter, a Paraplanner and Wealth Advisor at Jessup Wealth Management. I joined the team in July 2020 as a financial planning intern. By 2021, I graduated from Wright State University with double Bachelor’s Degrees in Financial Services and Accounting and an Associate’s Degree in Business Administration from Sinclair Community College.
This blog aims to dissect relevant financial planning topics and educate readers. I put a lot of thought into providing insights and strategies to help you enhance your financial lives. Whether you’re looking to optimize your investments, plan for retirement, or manage your budgets, I’m here to guide you toward achieving your financial goals.
If you experience irregular income year over year, regardless of the source of these funds, it can be difficult knowing how to plan for these surprises. In my previous blog posts, I have advised on how to plan for this type of tax liability and avoid underpayment penalties when income changes during the year.
This article explains how IRS underpayment penalties work, who is most at risk, and practical ways to avoid them. It walks through the IRS safe harbor rules, shows how penalties can be calculated across quarterly payments, and highlights strategies like Form 2210, Schedule AI, and adjusting withholdings. It’s a helpful read for taxpayers with irregular income, retirees, and anyone looking to stay ahead of avoidable tax surprises.
The IRS operates on a “pay-as-you-go” system, not just an April deadline. They expect taxes to be paid throughout the year as income is earned, not in one lump sum at tax time. If you underpay in certain quarters, underpayment penalties can kick in, even if your total tax bill is eventually paid in full.
This blog post will be the final part of my series on preparing for a successful retirement. I want to focus on common mistakes that I see people make, whether they are in their working years or retirement years. So far, I have covered how to plan for retirement income needs and how to minimize taxes.