Self employed

Hi Nebat,

Some years are better than others for business income, especially self employed people.
Hope things pick up for you as the months go on this year.

You are correct, as long as you make 2023 estimated tax payments to cover the total 2022 tax you owed ,

 you will not have an underpayment penalty when you file your 2023 tax return.

You might find this Turbo Tax Community information helpful:

https://ttlc.intuit.com/community/taxes/discussion/avoid-underpayment-penalty-with-quarterly-estimat...

Avoid underpayment penalty with quarterly estimated tax payments

Best wishes for your business

Becky

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