Am i required to pay estimated taxes if there are coupons attached to my return? Can't I simply have more $ withheld from each paycheck?

[Critter · Accepted solution]

The estimates are suggestions not requirements ... so change the withholding instead if you wish. 

[riggsj]

This is extremely helpful. I'm assuming that any penalties would only be applied if we had a significant underpayment again next year...?

[Critter]

Do I need to make estimated tax payments to the IRS?
PAYING ESTIMATES
For SE self employment tax - if you have a net profit (after expenses) of $400 or more you will pay 15.3% for 2015  SE Tax on 92.35% of your net profit in addition to your regular income tax on it. So if you have other income like W2 income your extra business income might put you into a higher tax bracket.

You must make quarterly estimated tax payments for the current tax year (or next year) if both of the following apply:
- 1. You expect to owe at least $1,000 in tax for the current tax year, after subtracting your withholding and credits.
 
- 2. You expect your withholding and credits to be less than the smaller of:
    90% of the tax to be shown on your current year’s tax return, or
  100% of the tax shown on your prior year’s tax return. (Your prior year tax return must cover all 12 months.)