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mikelu9661
Level 3

Paying Estimated Quarterly Taxes

Hello,

I have Turbotax which gave me QBO Self-Employed for free, I'm currently using QBO Plus for my business as it has the essential features needed for my business. So basically all my data is within my QBO Plus, but it seems that the plus doesn't have the estimated quarterly taxes feature to calculate or pay the taxes within it. Therefore I'm not sure how i should deal/handle this to make it work & pay estimated quarterly taxes.

7 Comments 7
Adrian_A
Moderator

Paying Estimated Quarterly Taxes

uI'm here to share some information about taxes in QuickBooks Online,   
mikelu9661.

 

You're correct that the option to pay quarterly taxes isn't available in QuickBooks Online. Since all your data are on this file, we can manually pay the taxes outside QuickBooks.

 

If you want to use QuickBooks Self-Employed, then you can directly pay the taxes inside QuickBooks.

 

I have articles here that have detailed information about taxes:

 

 

I'm just around if you still need help. Stay safe!

mikelu9661
Level 3

Paying Estimated Quarterly Taxes

Is there any tax tool we can use to calculate the tax we need to pay? I mean since it can be paid via IRS, quickbooks, & other places. The only thing I'm missing is probably the calculation of the estimated taxes i need to pay so i can just pay it off after getting the numbers. I don't see a poitn of using self employed if i have plus unless i want the same data in 2 places.

FritzF
Moderator

Paying Estimated Quarterly Taxes

Thanks for getting back to us, @mikelu9661.

 

Since the option to pay estimated quarterly taxes is only available in QuickBooks Self-Employed (QBSE) as shared by my colleague above, you can try searching for a tax tool online or visit our App Center as a workaround.

 

While this isn't available in QuickBooks Online (QBO), I'll pass along your suggestion to our Product Developers. They're always looking for ideas to consider on how to improve QBO.

 

In the meantime, I recommend visiting our Blog site. This is where we share recent happenings and future developments, such as updates to newly added features.

 

Just in case, I'll add these articles for future reference:

 

 

Let me know if you have any other concerns or questions by leaving a comment in this thread. I'm always here to answer them. Have a great weekend!

ashpeterspro
Level 1

Paying Estimated Quarterly Taxes

It doesn't make any sense that QB would offer this feature to estimate quarterly taxes in Self Employed but not Online. 

Rustler
Level 15

Paying Estimated Quarterly Taxes

@ashpeterspro 

 

Quarterly estimated taxes (QET) is a personal event, it has nothing to do with the business accounting, that is the reason it is not in QBO or QBDT.

 

QBO/QBDT is double entry accounting, QBSE is single entry bookkeeping, different animals

 

Download the IRS form 1040-ES, there is a work sheet you use to calculate QET.  You fill it out and make the payment, if you choose to make the payment from the business funds, then that payment is booked as equity drawing.

saltimmy
Level 1

Paying Estimated Quarterly Taxes

Please include the estimated quarterly taxes in Simple Start too - I was very sad to learn that this feature was missing when I switched from Self Employed.

9130353630627266
Level 2

Paying Estimated Quarterly Taxes

HI - it is a personal event, for sure.  However, for those of us who are LLCs as sole-proprietors, we have to pay estimated quarterly taxes for our business, through our own SSN.  Having this featured added to QBO would be so very very helpful.

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