Estimated Quarterly Tax Report

The Estimated Quarterly Tax Report helps self-employed users plan for quarterly tax payments throughout the year.

Who this is for

This report is for teachers and organization admins who want to estimate what they may owe each quarter instead of waiting until year end.

What data it generates

The report includes:

• payment transactions from the current or past-dated periods
• charge transactions that are dated in the future and treated as expected income
• paid events that count as actual income
• future scheduled events that count as expected income
• expense totals by quarter
• annual gross revenue
• annual net income
• estimated self-employment tax
• estimated quarterly payment amounts
• due dates for the quarterly estimates
• a quarter-by-quarter income and expense table
• a detail table of income rows for each quarter

How to use it

Open Estimated Quarterly Tax Report from the Business Reports area and choose the year you want to review.

You can:

• view the full year
• open the PDF in a new tab
• download the PDF
• download the CSV

What the report means

This report is a planning tool.

It is different from the Tax Summary because it mixes recorded income with expected income so you can estimate taxes before the year is over.

That means:

• past-dated payments are treated as recorded income
• future-dated charges are treated as expected income
• paid events count as income once they are paid
• future scheduled events are treated as expected income
• expenses are grouped by quarter

What you will see in the report

The report shows:

• quarterly revenue
• quarterly expenses
• quarterly net income
• year-to-date net income
• estimated quarterly tax payment amounts
• common quarterly due dates
• itemized income rows with source, description, type label, and amount

Best practice

Use this report when you want to prepare for estimated tax payments during the year, especially if your income changes from quarter to quarter.

Related reports

• Tax Summary
• Tax Filing Preparation
• Revenue Summary
• Profit and Loss Statement