It appears that with your current withholdings you will have a tax SHORTFALL of $17,734 for the recent tax year. Consider updating your withholdings elections so that your future withholdings will more closely match your estimated tax liability.<table class='pure-table pure-table-bordered' role='grid'><tr><th colspan='3' class='section'>Estimated Tax Analysis</th></tr><tr><td role="rowheader" scope="row">Gross income</td><td></td><td>$125,000</td></tr><tr><td role="rowheader" scope="row">Taxable Pass-Through Income</td><td>+</td><td>$0</td></tr><tr><td role="rowheader" scope="row">Qualified Plan Contributions</td><td>-</td><td>$0</td></tr><tr><td role="rowheader" scope="row">Adjusted gross income</td><td>=</td><td>$125,000</td></tr><tr><td role="rowheader" scope="row">Standard/Itemized deductions</td><td>-</td><td>$16,100</td></tr><tr><td role="rowheader" scope="row">Taxable income</td><td>=</td><td>$108,900</td></tr><tr><td role="rowheader" scope="row">Tax liability before credits</td><td></td><td>$18,734</td></tr><tr><td role="rowheader" scope="row">Child tax credits</td><td>-</td><td>$0</td></tr><tr><td role="rowheader" scope="row">Family tax credits</td><td>-</td><td>$1,000</td></tr><tr><td role="rowheader" scope="row">Estimated tax liability</td><td>=</td><td>$17,734</td></tr><tr><td role="rowheader" scope="row">Refundable Child Tax Credit</td><td></td><td>$0</td></tr><tr><td role="rowheader" scope="row">Taxes withheld to date</td><td></td><td>$0</td></tr><tr><td role="rowheader" scope="row">Taxes yet to be withheld</td><td>+</td><td>$0</td></tr><tr><td role="rowheader" scope="row">Total taxes withheld/to be withheld</td><td>=</td><td>$0</td></tr><tr><td role="rowheader" scope="row"><b>Tax shortfall</b></td><td></td><td>$17,734</td></tr></table>