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Thanks for joining this conversation, BrentCrouch.

 

It's possible that the net income has a greater amount than the business income. Using simplified expenses, your self-employment taxes are base on the following:

 

  • Projections based on your recorded business-related income and spending.
  • Allowable expenses.
  • The information you have set up in your Tax Profile.

 

Just make sure to categorize your transactions correctly so you'll have an accurate estimated taxes. Also, you can review the information entered in your Tax Profile settings. Please refer to this article for more insights: How we calculate estimated tax payments.

 

I also suggest consulting your accountant for further guidance in selecting the proper categories for your transactions.

 

For additional information, consider checking out these articles:

 

 

Reach out to me in the comment section if you have any other issues or concerns. I want to make sure everything is taken care of for you. Have a wonderful day!