Thank you for the information. That was very helpful and straight forward. Internet searches have lent me conflicting answers on this so I appreciate your help.
Are the quarterlies, required or mandatory, and are there any fee's or penalties associated with not paying them? I have been using QB self employed with the TurboTax Plugin since day 1 and have set aside in a separate business bank account the estimated minimum tax payment, but did not submit for Q1. Are the quarterlies required or is it just a "best practice" type of thing where It helps you not have a large bill to pay come April?
