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Amanda_S
Level 1

Estimated Taxes

My husband and I are both self-employed, and we each have a QBSE account. When calculating estimated taxes, I had been inputting my husbands estimated annual taxable profit into the W2 category, and checking "use my own estimate" for his "federal withholding" and entering 0 to help calculate how much we would have to pay in estimated taxes. Is there a way to change that setting to reflect the spouse is self-employed? What is the best way to calculate estimated taxes in QBSE when your spouse is self-employed too?

1 Comment
Teri
Level 9

Estimated Taxes

I suggest you might want to hire a tax person and an accounting person.  Sounds like you are mixing up payroll taxes with income taxes.  If you input estimated annual taxable profit onto your W-2, guess what?

You probably pay taxes on the same money a second time.  I doubt that QB, Turbo Tax or IRS would be willing to estimate taxes for you and assume no one here would either since more information is needed.

 


@Amanda_S wrote:

My husband and I are both self-employed, and we each have a QBSE account. When calculating estimated taxes, I had been inputting my husbands estimated annual taxable profit into the W2 category, and checking "use my own estimate" for his "federal withholding" and entering 0 to help calculate how much we would have to pay in estimated taxes. Is there a way to change that setting to reflect the spouse is self-employed? What is the best way to calculate estimated taxes in QBSE when your spouse is self-employed too?


 

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