This post was originally published on Jan. 8, 2015, and was updated on March 5, 2018, Jan. 17, 2019, Jan. 30, 2020, and Jan. 15, 2021.
The above content should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.
When I first started my business, I was naïve about a lot of things. I treated colleagues like competition, didn’t require clients to sign contracts, and charged way too little. But I was by and far the most naïve about taxes. Quarterly estimated taxes? What are those?!
For one, I didn’t get that I was supposed to pay my taxes four times per year.