I'm the owner of a small business (sole proprietorship) and make quarterly estimated taxes. My estimates were made on my assumptions at the beginning of the year which recently changed. Specifically, I've decided to bunch up donations to a Donor Advised Fund for this year (my spouse and I itemize based on SLT and mortgage interest) for a sizeable amount, which may lower our tax bill by a 5-figure amount.
Effectively, it would also mean I'm paid up on my 2024 estimated taxes through Q3. Do I have an obligation to make a Q4 payment or can I elect to pay $0 in Q4? How should I handle potential overpayments of estimated taxes?
