Calculating and paying quarterly estimates
Can Turbo Tax Self-Employed help calculate and file quarterly taxes or do you have to have QuickBooks Self-Employed to do that? I started my own freelance business at the beginning of the year and have not yet payed quarterly taxes but would like to do so by the Sept. 15 deadline. I have been using a free online software accounting software called Wave.
Hi Lori! You can use QuickBooks Self-Employed or TurboTax Self-Employed to calculate your estimated quarterly taxes. If you need an accounting solution, I recommend that you sign up and use QuickBooks Self-Employed. However, in order for it to provide you with an estimate, you will need to enter all of your income and expenses for the year. If you have a business bank account then this should be pretty easy to do. You can connect one bank or credit card account to QBSE and download all of your transactions.
Here is the link to save up to 50% off of QuickBooks Self-Employed: https://app.fitsmallbusiness.com/goto/quickbooks-self-employed/
Best of luck,
Crystalynn Shelton, CPA