Let's say I expect to generate $500/month of steady income from my side company (single member LLC). I work FT during the day and taxes are paid accordingly. Do I need to worry about estimated taxes, assuming my withholdings are reasonable (S1)?
What happens if I don't file my estimated taxes?
EDIT: I live in the US and recently got married. My wife's W4 is S0 while I'm M1. I may change mine to M0 to offset her large refund.