I moved into a consulting role in Jan 2022 and I'm trying to figure out how to determine my estimated tax payments. Turbotax didn't provide an estimate for me.

I've been self-employed since 2005. What I've been doing from the start is I just send the IRS 20% of my "gross" business income every quarter.I find that using the "worksheets" for this to be a waste of my time, as it works out to roughly 20% of the gross income anyway.

Come tax filing time, I'm fine. I'm always well within a thousand dollars of my overall tax liability. Generally I always end up getting a refund. But two years I actually ended up owing the IRS and what I owed was less than half of the $1000 underpayment penalty. So no such penalty was assessed.

If you estimate that your total yearly income from all sources will exceed $160K, then you should send the IRS 25% of your gross business income each quarter.

You can use the estimated tax routine in TurboTax to determine your estimated tax obligations for the following year. It is in the Other Tax Situations section of TurboTax, then Other Tax Forms, then Form W-4 and estimated taxes. You will be instructed to enter your wage and self-employment income and TurboTax will factor your self-employment tax in to calculate the estimated tax you should pay in.