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lakesideengineer
August 17, 2023
Question

My estimated state taxes do not show on any report - why not? The est. federal taxes show up.

  • August 17, 2023
  • 1 reply
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Original commenter did not share additional details

    1 reply

    J
    JamesAndrewM
    August 17, 2023

    I'll share information that could help you get through this.

     

    If you're self-employed, you must pay federal estimated quarterly taxes based on your earnings. Additionally, certain states demand their own estimated quarterly taxes. Consequently, you might have to manage two sets of estimated quarterly tax payments: one to the IRS and another to your state's tax authority.

     

    While QuickBooks Self-Employed handles the computation of federal-estimated quarterly taxes, it does not perform the same service for state-estimated quarterly taxes.

     

    To get state quarterly tax info, go to the IRS' list of state's Department of Revenue sites. You may also see your state's requirements and tell you how to make tax payments. Also, if you don't see your state, reach out to your state's tax franchise board or Department of Revenue.

     

    I will also leave these articles for future purposes:

     

     

    Feel free to post here again if you have further QuickBooks-related concerns. We are available 24/7 to lend a hand with each of your queries. Stay safe!

    L
    lakesideengineerAuthor
    August 19, 2023

    That does not answer my question. 

      A
      AbegailS_
      August 19, 2023

      Hi there, @lakesideengineer. Allow me to chime in and provide clarification. 

       

      QuickBooks Self Employed is specifically created for self-employed individuals, focusing on monitoring income and expenses, estimating federal taxes, and generating basic financial reports. It calculates federal estimated quarterly taxes. However, it doesn't calculate state-estimated quarterly taxes.

       

      See this article for more details: Do I need to pay estimated quarterly taxes for my state?

       

      Once everything is all set, you may also want to check out one of our Help pages as your reference to guide you in managing your taxes in QBSE: Manage taxes in QuickBooks Self-Employed. It includes topics about estimated taxes, reports, and forms, to name a few.

       

      Post here again if you have any other concerns about managing your self-employed taxes. I'm just around the corner to help. Have a good one.

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