Quarterly Estimated Tax Payments #doctor #tax #taxes #money #personalfinance

Having been dealing with quarterly estimated payments now for at least. At least 12 or 13 years of my life, let me tell you the honest truth about People worry about this way too much. It's a guess. It's really hard to nail it. The most important thing is to make sure you have the money to pay your taxes. Everything else is small potatoes after that. Making sure you have the money. Because what you don't want to do is get to April and realize, oh, I was supposed to be paying quarterly estimated taxes. Not only did I not pay those, but I don't have the money. You've got to pay your taxes. It's a pay as you go system. You're supposed to pay it as you go along. If you don't, there's a little bit of penalty associated with it. But let's talk about that penalty. What is that penalty? The penalty is basically just the interest you should have been earning on the money that you didn't pay to the IRS when you're supposed to pay it. Right. It's not like they throw you in jail.