this post was submitted on 23 Feb 2025
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Comic Strips
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Comic Strips is a community for those who love comic stories.
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- If you are posting a comic of your own, a maximum of one per week is allowed (I know, your comics are great, but this rule helps avoid spam).
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- Adult content is not allowed. This community aims to be fun for people of all ages.
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That's kinda what quarterly estimated taxes are for. At the end of every quarter, if things aren't lining up and your estimates were too low, you can pay extra tax to bring things in line.
The estimate doesn't have to be too precise though. At long as you pay at least 90% of what you owe this year or 100% of what you owed last year (whichever is smaller), you'll be fine. Any less than that and you'll be hit with an underpayment penalty.
It's better to owe money rather than get a refund, as long as you pay enough to avoid the underpayment penalty.