Patching small holes can become a little bit of a headache sometimes. Specially when your hole is bigger than a penny. Most of the time your joint compound will bubble up if your hole is too big. Then you would have to tape it, wait for it to dry then throw some more compound on top of it and so on. Here is a little trick that will eliminate the taping and skip a complete step.
Instead of using tape just fill the holes with some tissue or toilet paper then apply your compound. One coat is usually enough but sometimes a second coat is necessary to make it perfect.