MarilynG1
Expert Alumni

Get your taxes done using TurboTax

If you're self-employed, it's a good idea to make quarterly estimated payments to avoid an underpayment penalty. You can take your 2024 income, divide by four and use that amount as a guide on the Annualized Income Worksheet in the Underpayment Penalties section, or here's a link to an IRS Worksheet (see page 9).

 

If you believe your income will be less in 2025, you can pay a lesser amount each quarter than what you calculated on the worksheet, but making a payment each quarter is recommended.

 

Here's more info on Form 2210.

 

@Rockpowwer 

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