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kareemgovan-gmai
Level 1

Should I enter my set annual salary in Your annual W2 income field on the Tax Profile page for 2022? If I am using 2021 W2, which field or fields should I use?

Just start contracting outside of my full-time job. Trying to make sure I update the most accurate amount to avoid issues come tax season next year. I can pull the info from my 2021 W2 but not sure which field or fields I should be using.
3 Comments 3
ChristieAnn
QuickBooks Team

Should I enter my set annual salary in Your annual W2 income field on the Tax Profile page for 2022? If I am using 2021 W2, which field or fields should I use?

Hi there, kareemgovan-gmai.

 

Thank you for visiting the QuickBooks Community. I'll be sharing details on how your income and expenses work in QuickBooks Self Employed. Then, to ensure you'll be able to record your taxes correctly so your W2's will be accurate.

 

As a taxpayer, your tax bracket is based on your self-employed income and any other income. This includes income from working for another employer (what's on your W-2 form). 

 

QuickBooks Self-Employed simply tracks your income and expenses from your self-employed work. Since it requires your tax bracket info to calculate your federal estimated quarterly tax payments, you'll have to enter your salary in the annual W2 income field. However, I recommend consulting an accountant before performing the process. They can provide suggestions if you're authorized to enter a set annual salary in the W2 income field for 2022 if you're using the 2021. This gives QuickBooks your complete tax info so your estimates are accurate.

 

Lastly, you may refer to this article to view different details on how QBSE is designed to help you record your self-employed income and expenses, track mileage, and prepare your Schedule C: QuickBooks Self-Employed Overview.

 

Please touch base with me here for all of your QuickBooks needs or if you still have concerns managing your W2's entries. I'm always happy to help. Have a great day and stay safe.

kareemgovan-gmai
Level 1

Should I enter my set annual salary in Your annual W2 income field on the Tax Profile page for 2022? If I am using 2021 W2, which field or fields should I use?

Am I about to to source an accountant through quickbook?

SarahannC
Moderator

Should I enter my set annual salary in Your annual W2 income field on the Tax Profile page for 2022? If I am using 2021 W2, which field or fields should I use?

Hello there, @kareemgovan-gmai. Thanks for getting back to us.

 

You can consult your own tax advisor or outside QuickBooks as long as they can help you with your needs. On the other hand, you can follow the steps below.

 

  1. Go to the Find-a-ProAdvisor website.
  2. Enter the specific location, the service you want them to help you, and your supported product.
  3. In the Service provided field, you can select appropriate options according to your needs under the Tax services section.
  4. The system will automatically generate accountants or advisors for you. They'll be able to work with you and make sure everything is accurate.

 

I've gathered some resources to learn more about handling your taxes in QBSE:

 

 

Be sure to get back to us if you have other concerns. We're here to assist you further. Wishing you well.

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