Hello Mahaugh98,
Thank you for participating in the Ask the Experts event. As to your question, if you end up owing less than $1,000 in taxes you should be fine with what you paid and, yes, the $75 you paid will go toward what you owe.
Whether you had to or not may depend on where you end up at the end of the year. It's tricky being self-employed because our income may not be consistently the same throughout the year. If that's the case, the IRS does have the option when filing to see if any penalty can be waived because of that inconsistency.
Here is an excellent article to help you more: A Guide to Paying Quarterly Taxes
I hope that helps.
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