Question

How to use TurboTax to pay quarterly estimated taxes as self-employed?

Forum|Forum|7 years ago
September 18, 2018
1 reply
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I'm new to self-employment / business taxes and trying to figure out how to pay quarterly taxes. Is this something TurboTax can help with?

When i try to get the 'self-employed' version, it says 'take me to my refund'. But i'm not interested in doing a refund i just need an easy way to calculate estimated taxes from my quickbooks info.

Is there a turbotax product or section that can help with this?

Carl11_2

TurboTax is not designed or intended to be used for quarterly tax payments of any type, to any taxing authority. While it can be used to figure quarterly estimates based on the prior year's business income and taxes, it can not be used to pay them. Pay your quarterly federal taxes online at http://www.irs.gov/directpay. If your state taxes your income, then you'll have to check with your state's website on your payment options.

Generally for the federal taxes, if you send the IRS 20% of your ***GROSS*** business income each quarter, then come tax filing time you'll be fine.