Salesforce Obscura: This quarter vs the same quarter last year, but ALIVE

A quick one that is the bane of many a fundraiser’s existence. You want to compare Q1 this year to Q1 last year. You’ve probably found tutorials that let you create a formula that outputs Q1, Q2 etc but then in your report filters you have to manually update the quarter each time it changes.

What if it could always represent a living quarter-to-date analysis of whatever the current quarter is? So as soon as Q2 hits, the report updates to show Q2 last year and Q2 this year, without anyone changing filters?