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juledobson-yahoo
Level 1

I have a full time job, recently started 2nd job direct selling. Is there a way I can add my current tax code and/or earnings to this app for my full time permanent job?

 
3 REPLIES 3
JamesDuanT
Moderator

I have a full time job, recently started 2nd job direct selling. Is there a way I can add my current tax code and/or earnings to this app for my full time permanent job?

Hello there, juledobson-yahoo.

 

You still need to record your actual income through your Tax PRofile in QBSE. This will help us identify your tax bracket and will show up under the W-2 Annual Income box.

  1. Click the Gear icon located in the upper right corner.
  2. Under Taxes, choose Tax Profile.
  3. On the Tax Profile page, enter the net pay in the Your annual W2 Income box.
  4. Click Save.

You might find these articles helpful regarding the tax guide in QBSE:

Let us know if you need anything else.

davedewey
Level 1

I have a full time job, recently started 2nd job direct selling. Is there a way I can add my current tax code and/or earnings to this app for my full time permanent job?

Good morning, just tailoring the question slightly more for my clarity.

Im fully employed on the PAYE scheme but also carry out free lance work in a slightly different industry. Im registered under self assessment. 

 

My intention was and think is correct to use QBSE for my freelance work which then allows me to invoice and track. My question is very similar to the first part. Under tax profile would my allowance be the figure that is determined from my main income tax code 

 

Would I then under other income put my gross or net figure from PAYE income ? Then the second part is the income from self employ goes in box 1 ? 

MAnneJ
QuickBooks Team

I have a full time job, recently started 2nd job direct selling. Is there a way I can add my current tax code and/or earnings to this app for my full time permanent job?

Thanks for joining the thread, @davedewey. Let me provide steps on how to record your self-employment tax. 

 

Yes, you're right. The allowance should be the figure determined from the income tax.

 

Also, for the section where you list your additional sources of income, please ensure that you enter the net income amount. Furthermore, we can record your income from self-employment in the 1st box. 

 

Here's how: 

 

  1. Go to the :gear:Gear icon, then select Tax profile.
  2. Choose the tax year from the dropdown, then add your marital status.
  3. Enter your personal allowance amount. This is the tax-free portion of your income. It can be bigger (Marriage Allowance, Blind Person's Allowance) or smaller (income over £100,000). You shouldn't change the amount unless you know your allowance is different.
  4. Enter your estimated employment income. (Note: You can use your P60 at the end of the tax year, a P45, or calculate it manually. Remember to exclude any self-employment income.)
  5. Enter all your other income (for example, rental income) and other non-self-employment income.
  6. If you work from home, enter the number of hours you work from home each month.
  7. If applicable, enter your tax liability for the previous tax year.
  8. If your self-employment work started after 5 April of the tax year, select Yes, then Save.

 

In addition, I've included this article for your reference and to learn how to make federal estimated tax payments each quarter: Pay federal estimated quarterly taxes in QuickBooks Self-Employed.

 

The Community is open to your queries 24/7. Don't hesitate to click the Reply button if you need any additional assistance related to QBSE taxes. Have a good day!

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