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Chloe Kennedy
February 9, 2023
Question

Payroll

  • February 9, 2023
  • 1 reply
  • 0 views

I am self employed, and have recently started paying myself through QB payroll. I get emails telling me about my total payroll costs, but it seems irrelevant because only the net amount is what has been taken out of the business account AND the same amount is deposited in my personal account. Should the difference be taken from my account and withheld from QB? Or am I supposed to be doing that myself? 

1 reply

C
Carneil_C
February 14, 2023

I appreciate you outlining the details of your concern, Chloe.

 

Let me make it up to you by giving you some details about self-employed individuals in QuickBooks Online.

 

If you've set yourself up as an employee, you're right that you'll have to manage that on your own since the taxes won't be deducted from your paychecks. Thus, you keep track of what you owe and pay it yourself. To learn more about it, please review this handy resource: Self-Employed Individuals Tax Center.

 

If you need one-on-one help from an expert, you can go to a tax preparer or an accountant. If you're not affiliated with one, you can utilize our Find an Accountant tool to look for one in your area.

 

Otherwise, consider setting up and paying an owner's draw in QBO. You can follow the steps in this guide to guide you through the process: Set up and pay an owner's draw.

 

I'll be around if you need further assistance with your payroll tasks. I'll do everything I can to help here in the Community. Take care always.

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