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2 replies

Moderator
April 17, 2020

Hi there, @alejandrotm84

 

Thank you for reaching out to the Community. QuickBooks calculate depend on how you set up your tax profile. You'll need to check the Tax profile if it's set up properly. Here how: 

 

  1. Click the Setting icon, then select Tax profile
  2. Under Tax profile, review the details if correct. Make the necessary correction if needed. 
  3. Press Save once done. 

 

 

 

To help you figure out about estimated tax calculation, you can check these articles:  

 

 

That's it. Please let me know if I can be of further assistance. I'll be around to help you out. Have a great day!

April 18, 2020

Ok, this quarter I only made $ 1954.31 with $ 695.95 of expenses and it gives me an estimate of $ 2059. I think it's not right ...

JessT
Moderator
April 18, 2020

Hello alejandrotm84!

 

 

Having an accurate tax estimate can make us comfortable, and this is what we want you to feel.

 

I would recommend reviewing your transactions to see if they are categorized correctly. There may be some expenses or deductions that are not recorded yet, which causes you to have a larger tax estimate.

 

If you've already reviewed them, but you're still uncomfortable with the tax amount, please take a moment to reach out to Support. They can use a screen-sharing tool to view your records to understand them better.

 

You can always reach back out if you have other questions about QuickBooks Self-Employed.