You don't have to calculate your annual estimate amounts by yourself. QuickBooks Self-Employed calculates these for you and helps you pay them.
To find what your annual estimated payments will be, just click Taxes on the navigation bar, then choose Annual taxes. You'll see your taxable business profit and details about your business expenses, and how they translated into deductions (see annualestimatedtaxes.png)
You can also download a tax summary (PDF) or tax details (XLS) for the year. These files come in very handy when filing your annual taxes or working with an accountant. Here's how:
On the Annual page, click the arrow down next to Email tax details.
Select Download tax details or Download tax summary (see downloadtaxdetailsorsummary.png).
If you've manually paid your estimated taxes using a different program, you can mark it a paid in QuickBooks. Let me show you how:
Go to Transactions.
Click the Add transaction button.
Enter the date, description, and amount.
Select Estimated Taxes for the category.
The payment should show in the Amount Paid column in the Taxes tab.
While QuickBooks Self-Employed can help you submit your Quarterly Tax Payments, it does not handle filing your annual tax return. However, our Tax Bundle includes TurboTax Self-Employed which you can use to self-prepare and file your annual tax return.
If you're not subscribed to the tax bundle, you'll simply run your year-end reports and utilize those when you do your tax return.
To complete the IRS Worksheet 2-7: 2019 Annualized Estimated Tax Worksheet, make sure to review your transaction. The most important reports for your tax file are the Tax Summary, Tax Details, Receipts, and Mileage Log.