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QuickBooks Self-Employed Overview

New to QuickBooks Self-Employed? This is a fast way and easy way to track your business income and spending all year long. You'll be way ahead and ready when your taxes are due!

Learn more about QuickBooks Self-Employed with the  Frequently Asked Questions we have listed below.

General Product FAQs

QuickBooks Self-Employed (QBSE) is a program that is meant to support self-employed individuals in tracking their business-related transactions. The system helps calculate federal estimated taxes based on the business data. QBSE helps in paying quarterly estimated taxes and in filing our Schedule C when filing the annual tax return (1040).

Generally, you are self-employed if any of the following apply to you:

  • You carry on a trade or business as a sole proprietor or an independent contractor.
  • You are a member of a partnership that carries on a trade or business.
  • You are otherwise in business for yourself (including a part-time business).
  • You generate Schedule C categories and file your business taxes as part of you 1040.

Note: QBSE is not designed to handle nonprofit or charitable organizations.

Here's just a bit of what you can do:

  • Organize your business spending.
  • Maximize your business deductions.
  • Claim a mileage deduction by tracking business miles you drive.
  • Help you figure out your business profit.
  • Get your estimated tax payments calculated for you.
  • Put your expenses into the correct Schedule C categories.
  • Export your records to an easy-to-read Schedule C.
  • Connect to TurboTax for fast year-end filing.

We also provide a free mobile app, available for both iOS and Android, which lets you review transactions and automatically track mileage right from your phone.

We're here to help We are up to date with the IRS's latest self-employment and Schedule C deduction standards. Just connect your bank and credit card accounts (your data is always encrypted and read-only, so it's safe and secure), and we'll take care of the rest.

The IRS also offers lots of great information on being self-employed. Check out the IRS Self-Employed Individuals Tax Center to learn about things like:

As a self-employed individual, generally you are required to file an annual return and pay estimated tax quarterly.

Self-employed individuals generally must pay self-employment tax (SE tax) as well as income tax. SE tax is a Social Security and Medicare tax primarily for individuals who work for themselves. It is similar to the Social Security and Medicare taxes withheld from the pay of most wage earners. In general, "self-employment" refers to Social Security and Medicare taxes and not any other tax (like income tax).

Before you can determine if you are subject to self-employment tax and income tax, you must figure your net profit or net loss from your business. You do this by subtracting your business expenses from your business income. If your expenses are less than your income, the difference is net profit and becomes part of your income on page 1 of form 1040. If your expenses are more than your income, the difference is a net loss. You usually can deduct your loss from gross income on page 1 of Form 1040. But in some situations, your loss is limited. See Pub. 34, Tax Guide for Small Business (For Individual Who Use Schedule C or C-EZ) for more information.

You have to file an income tax return if your net earnings from self-employment were $400 or more. If your net earnings from self-employment were less than $400, you still have to file an income tax return if you meet any other filing requirement listed in the Form 1040 instructions.

Estimated tax is the method used to pay Social Security and Medicare taxes and income tax because you do not have an employer withholding these taxes for you. You can make your estimated tax payments through QBSE. When you login to your account, you will see our estimate of what you should pay for this quarter at the top right.

When you are ready to pay your estimated taxes, click "Pay Now" at the top right within your account or on the Taxes page. You can choose to mail the payments or if you have the Tax Bundle, pay electronically. QuickBooks Self-Employed estimates what you should pay based on the actual data you've entered, our projections for the rest of the year, and any other relevant information you've given us about other income, withholding, deductions and filing status.

The Internal Revenue Service has established four due dates for paying estimated taxes -- unless you choose to pay estimated taxes for the year upfront. Typically, the due date is the 15th. If the 15th falls on a weekend or a federal holiday, then the due date is moved to the following business day. The tax periods are not evenly spaced by quarter.

  • For Q1 income received Jan 1 through March 31, estimated tax is due April 15.
  • For Q2 income received April 1 through May 31, estimated tax is due June 16.
  • For Q3 income received June 1 through Aug 31, estimated tax is due Sept 15.
  • For Q4 income received Sept 1 through Dec 31, estimated tax is due Jan 15.

Your 30-day free trial expires automatically, so you do not need to take any action to cancel it. Because you did not provide any billing information to us, you will not be billed.

To cancel your QuickBooks Self-Employed paid subscription:

  1. Go to the Settings ⚙ icon.
  2. Select Billing Info from the drop-down menu.
  3. Click Cancel Now.

Do you want to cancel your QuickBooks Self-Employed mobile subscription? Check this article for more information.

  1. Select Settings ⚙.
  2. Select Billing Info from the drop-down menu.
  3. Click Cancel Now.
  4. Select Keep QuickBooks Self-Employed option.
  5. Click Change subscription.

You will get all the feature in QuickBooks Self-Employed, plus:

  • File one federal and one state tax return in Turbo Tax Home and business for no extra charge.
  • Export Schedule C to Turbo Tax and file even faster.
  • Pay your quarterly estimated taxes online.

Unfortunately, it is not possible to customize your QuickBooks Self-Employed Schedule C. We designed the software to match the IRS Schedule C forms for self-employed individuals. This is what makes it simple and easy for professionals like you to:

  • Easily track your spending and income every month
  • Estimate your taxes in a flash at tax time

Need assistance?

Here's How to contact QuickBooks Self-Employed Support.

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