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November 5, 2021
Question

Do estimated taxes calculated by QuickBooks for Self-Employed include social security and medicare?

  • November 5, 2021
  • 1 reply
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1 reply

MichelleBh
November 5, 2021

You've come to the right place for answers, @fredlackey. I hope you're good and well today.

 

Glad to provide insights about estimated tax in QuickBooks Self-Employed (QBSE). This way, I can guide you accordingly. 

 

Yes, the estimated tax calculates the social security and medicare in QBSE. This tax also covers your income. To know how it is calculated in your account, click on the link: How QuickBooks Self-Employed tracks self-employment taxes.

 

Please take note that you can pay your federal estimated tax by mail and online. For the complete steps, visit this article: Pay federal estimated quarterly taxes in QBSE

 

Also, read the following articles about who should pay the quarterly taxes and how to get your payments in QBSE:

 

 

Don't hesitate to leave a comment below if you have other concerns. The Community and I will be here to help you anytime. Keep safe always, fredlackey.