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September 14, 2022
Question

Self-employment taxes are not accruing in quickbooks?

  • September 14, 2022
  • 1 reply
  • 0 views
Quickbooks is not showing estimated tax payments due this year.

1 reply

September 14, 2022

Welcome to the Community, sc0ut520. I'm here to share some information about self-employment taxes in QuickBooks Online.

Since QuickBooks Online doesn't automatically accrue self-employment taxes without payroll service, we will need to add and categorize those tax payments as they hit your bank.

 

The first step is to connect your bank and download your transactions into QuickBooks Online.

 

Once done, we'll need to categorize those tax payments properly. The more frequently you organize your expenses, the easier it is to find deductions and save money during tax season.

 

Here's how:

 

  1. Go to Banking.
  2. Select the account tile of the bank you connected to QuickBooks Online.
  3. Then click on For Review tab.

 

I'm adding this article for more information: Categorize and match online bank transactions in QuickBooks Online

 

You can also learn more by clicking on this link for the ultimate guide to tax deductions for the self-employed

 

You're always welcome to leave a comment or post any follow-up questions about employment taxes. We'll be here to assist you. Enjoy your day!