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April 20, 2022
Question

Can I pay more in estimated taxes than what quickbooks self-employed is calculating? I have an S Corp that is not linked with my QB self employed.

  • April 20, 2022
  • 1 reply
  • 0 views
I am basing my estimated tax payments on the quarterly vouchers that turbotax generated for me. The QB self employed calculation is way less than what I need to pay.

1 reply

MariaSoledadG
April 21, 2022

We'll have to make sure that you're paying the right tax required by the agency. I'm here to share some information about this, jimson-arreglado.

 

QuickBooks Self-Employed estimates federal tax payments based on your self-employed income, deductions, predicted future income for the year, and tax profile. It uses your current profits to estimate your income for the rest of the year. You'll want to refer to the IRS website to double-check if you can pay more on your estimated taxes. Please read this article for more information: How QuickBooks Self-Employed Tracks Self-Employment Taxes.

 

Additionally, you may also want to know what you need to pay and how to record them. I've also added this article so you'll know how to get your federal quarterly tax estimates: Get Qurterly and Annual Tax Info From QuickBooks Self-Employed.

 

Let me know if you have any other concerns about estimated taxes. We're always here to make sure that everything is taken care of.