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Do the estimated quarterly taxes already deduct the taxes paid on my W2? I'm earning money from my W2 and from my LLC, but I'm confused what the estimates count for

 
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Best answer July 19, 2020

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Do the estimated quarterly taxes already deduct the taxes paid on my W2? I'm earning money from my W2 and from my LLC, but I'm confused what the estimates count for

Thanks for reaching out to the Community forum, @rafaelcmrj.

 

QuickBooks Self-Employed (QBSE) tracks your income and expenses from your self-employed work only. 

 

At the time you sign up for the service, we need some information that you'll answer, like your filing status, dependents, and annual income from your employer. That data are those on your W-2 form. Doing so will set up your tax profile and make the system calculates the estimate correctly. 

 

So if you've filled out the tax profile, then estimated quarterly taxes deducts the taxes paid on W2.

 

More details about this can be found on below articles:

Just post any questions about QBSE here in the Community. I'll be here to help. Take care.

View solution in original post

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Highlighted
Moderator

Do the estimated quarterly taxes already deduct the taxes paid on my W2? I'm earning money from my W2 and from my LLC, but I'm confused what the estimates count for

Thanks for reaching out to the Community forum, @rafaelcmrj.

 

QuickBooks Self-Employed (QBSE) tracks your income and expenses from your self-employed work only. 

 

At the time you sign up for the service, we need some information that you'll answer, like your filing status, dependents, and annual income from your employer. That data are those on your W-2 form. Doing so will set up your tax profile and make the system calculates the estimate correctly. 

 

So if you've filled out the tax profile, then estimated quarterly taxes deducts the taxes paid on W2.

 

More details about this can be found on below articles:

Just post any questions about QBSE here in the Community. I'll be here to help. Take care.

View solution in original post

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