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useriguiva
Level 2

Hello, I'm trying to Reset to default all tax projections, but when I hit the "Save" button, the Quarterly estimates continue showing last year's amounts. What can I do?

 
5 Comments 5
Rubielyn_J
QuickBooks Team

Hello, I'm trying to Reset to default all tax projections, but when I hit the "Save" button, the Quarterly estimates continue showing last year's amounts. What can I do?

It's my pleasure to help you save your tax projections in QuickBooks Self-Employed (QBSE), @useriguiva.

 

This year's projection (2021) is based on last year's and last quarter's recorded business-related income and spending. 

 

It's important to add all of your business income and expenses and categorize them in QuickBooks. It constantly updates your estimates based on what you enter to give you accurate estimates. 

 

For more information, feel free to check out this article: How QuickBooks Self-Employed tracks self-employment taxes. This includes insights into how QuickBooks calculates your federal estimated quarterly taxes, and what it doesn't keep track of.

 

If you're unable to save your manually entered projections, we can perform some troubleshooting steps to fix this. 

 

There are times that the browser is full of frequently accessed pages, thus causing some unusual responses. Let's log in to your account using a private browser. This mode will not save any history, making it a great place to identify browser issues.

 

Access your QBO account in a private/incognito browser. You may use these shortcut keys that I've listed below:

 

  • Google Chrome: press Ctrl Shift N  
  • Mozilla Firefox: press Ctrl Shift P
  • Safari: press Command Shift N

 

Then, save your tax projections. If it works, go back to your regular browser and clear the cache to delete stored site data and improve the system performance. Also, you can use other supported browsers. It could be that the one you're currently working on has a temporary problem with QuickBooks. 

 

Additionally, to see how much you need to pay each quarter, here's how to get your tax info from QuickBooks Self-Employed

 

Feel free to visit us again if you have other tax concerns in QBSE. I'll make sure to get back to you right away. Have a great day ahead.

useriguiva
Level 2

Hello, I'm trying to Reset to default all tax projections, but when I hit the "Save" button, the Quarterly estimates continue showing last year's amounts. What can I do?

Thanks for your help, Rubielyn.

 

I've tried all what you recommended, but the system continues showing the estimated taxes based on last year, not this one. I reset to default the estimated taxes, it looks ok in the table, showing what I've earned the first quarter and showing $0 for Q2, 3 and 4, but when I clic "save," the system continues showing all quarters estimated taxes based on last year, which does not work for me. I would like to know what I will owe for Q1 2021 to save money in advance to pay the tax when it is due. Any other recommendations? Thanks again, Ignacio

useriguiva
Level 2

Hello, I'm trying to Reset to default all tax projections, but when I hit the "Save" button, the Quarterly estimates continue showing last year's amounts. What can I do?

Thanks for you help. None of the recommendations worked, the system continues showing estimated taxes based on last year after resetting to default projections. I need to know what I will owe this Q1 based on the business income that appears on my transactions this year, not based on last years. Any other recommendation? Thanks

JamesDuanT
Moderator

Hello, I'm trying to Reset to default all tax projections, but when I hit the "Save" button, the Quarterly estimates continue showing last year's amounts. What can I do?

Thanks for keeping us posted regarding this matter, useriguiva.

 

For estimated tax purposes, the year is divided into four payment periods. Each period has a specific payment due date. Note that Payment Period for Quarter 1 is January 1 – March 31. The estimated amount and the calculations are updated each time you categorize income and expense transactions. You can use this link for reference: Get quarterly and annual tax info from QuickBooks Self-Employed.

 

You can also follow these links to know about estimated taxes are calculated and managed in QuickBooks Self-Employed:

We'll be right here if you need further assistance with this.

useriguiva
Level 2

Hello, I'm trying to Reset to default all tax projections, but when I hit the "Save" button, the Quarterly estimates continue showing last year's amounts. What can I do?

Thanks!

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