Self-employed earning
[amount] a year. How
do quarterly estimated
taxes work, how much
to set aside, what if
I underpay a quarter.

Plan for Quarterly Estimated Taxes

Setting money aside as it arrives, instead of finding it later.

Prompt

I'm self-employed earning roughly [amount] a year. Explain how quarterly estimated taxes work, how to set aside the right amount as money comes in, and what happens if I underpay one quarter.