Thank you for visiting the QuickBooks Community, @devbhbooks. I'll be sharing details on how tax payments work in QuickBooks Self-Employed (QBSE).
We understand the importance of using the regular method to calculate your taxes. The QuickBooks Self-Employed program uses a simplified method to calculate your estimated taxes. To keep the calculations accurate, add and properly categorize all your business transactions.
QuickBooks will depend on the data you have input into the program. If you have some doubt about the calculation, I'd recommend consulting a tax adviser to help you assess the categories of your transactions.
You'll also have to fill out all the necessary information in your tax profile. Here, you can enter any income outside of the business that is taxed at ordinary rates. Check out this article to learn how to review and update this information: Tax profile in QuickBooks Self-Employed.
Also, always check the IRS website for the updated tax payment schedule to prevent tax penalties.
For more information about our QuickBooks Self-Employed taxes, you might want to read this article:
In addition, I've added this helpful material for a complete guide in categorizing your transactions to put them in the correct line of your Schedule C report: Schedule C and expense categories in QuickBooks Self-Employed.
Feel free to comment below if you have additional information about managing your taxes in QuickBooks Self-Employed. I'm always happy to help. Have a good one!
