Calculating and paying quarterly taxes?
I started a new freelance business at the beginning of the year and need to pay quarterly estimated taxes. Can Turbo Tax Self-Employed help calculate and file quarterly taxes? Or can only Quick Books Self-Employed facilitate that? I have been using the free online accounting software Wave to date.
Thank you for your guidance.
Hey Lori, that is a great question. QuickBooks Self-Employed is designed to keep track of quarterly self-employment taxes. In addition, if you purchase QuickBooks Self-Employed with the TurboTax bundle, your data will easily transfer over to Schedule C in TurboTax so you can file your tax return! Be sure to sign up through our link so you can qualify for a discount as a Fit Small Business subscriber. Here is the link to the QBSE guide: https://fitsmallbusiness.com/quickbooks-self-employed/.
Crystalynn Shelton, CPA