Apparently I'm not a smart person, and spent the entire year thinking I could just pay at the end. I asked a tax professional friend and she gave me all these circumstances that made it seem like I would be okay to wait until the end of the year. Now I'm doing more and more research and realizing she probably is not right. This is my first year being self-employed so I am new to all of this. From what I'm reading it sounds like I'm going to owe 50% total on taxes now at the end of the year at least. Lets say I made a generic amount like 40k and didn't pay any taxes on that yet. What kind of penalty am I going to be looking at and what should I do at this point? Thanks for your answers.
