ChrisCScott / forecaster

A personal finances forecasting tool for Canadian retirement planning
Other
1 stars 2 forks source link

Extend handling of insufficient tax withholdings #33

Open ChrisCScott opened 6 years ago

ChrisCScott commented 6 years ago

Currently, we determine whether any taxes in excess of what was withheld are owing and then pay them in the following year. In practice, we may be required to pay (some or all of) these amounts in the current year, depending on the tax authority's rules.

Extend the current functionality by adding hooks for determining tax remittances in excess of what's required via tax_withheld at the Account or Person level. This is likely to be implemented as a method of Tax called from the Forecast level.

For example: if $10,000 is owed in taxes across all taxable accounts, but only $2,000 was withheld, is the difference payable in the next year? Via installments in the same year? The Tax class could be extended to address this in a country-specific way via a tax_transactions method (which could include the refund schedule - see #1).

TaxCanada could override that method to implement Canadian tax rules. In Canada, the rule is that a shortfall of more than $3,000 must be remitted in the year via quarterly installments, otherwise it is paid in the following year.

This issue extends #2.