In order to avoid paying any penalties, most self employed who net over $400 need to pay on a quarterly basis. There is a form called 1040-ES that you can use to figure out if you will need to pay estimated payments or not and how much. 

The way I look at it is if you have to pay SE tax, you should pay it quarterly. 

Also be careful about saying you can deduct your yoga clothes..... most work clothing is npt tax deductibale unless it has your business logo on it and is only worn at work. Or else everyone would be deducting suits and yoga pants and saying they never wore it other than work. Not saying you can't, but just pointing this out so others know the guidelines and don't think they have all these deductions and then have a suprise at tax time. 

Other than that, great article to fill others in. I feel like this is a topic that most don't understand and you were able to break it down and explain it very clearly.