When will I receive my quarterly tax estimates?

If your onboarding is complete by the date listed below, you can expect to receive your estimate in the month before the IRS due date. Click here to learn about the automated process.

If your onboarding is not complete by the date listed below, please read on to learn about the manual process.

If you are unsure of your onboarding status, please email [email protected]

If Your Onboarding Is Not Complete By

Run a QBO P&L For

For IRS Due Date

February 28

January 1 - March 31

April 15

April 30

April 1 - May 31

June 15

July 31

June 1 - August 31

September 15

November 30

September 1 - December 31

January 15

Quarterly taxes 101

When you’re an employee, taxes are withheld from your paycheck, and these withholdings are applied to your final tax bill. As an S Corp, taxes are withheld from your paycheck for your salary, but these taxes don’t fully account for your S Corp’s pass-through profits. That’s where your quarterly taxes come in.

Every quarter, the government requires that you pay estimated taxes on those pass-through profits. Estimated taxes are due: April 15th, June 15th, September 15th (not for CA residence), and January 15th. If those dates fall on a weekend or holiday, the deadline moves to the next business day.

Action

To manually calculate your quarterly tax estimate, please follow these steps.

  1. Check the table above for IRS Due Date

  2. Calculate 30% of your S Corp's net income by running a profit and loss report in QuickBooks Online for the correct reporting period.

  3. Subtract any quarterly estimates you may have previously made.

  4. If your state does not have a personal income tax, pay all 30% to the federal government. We're looking at you Florida, Texas, and Washington.

  5. If your state does have a personal income tax, pay 20% to the federal government, and 10% to your state government

  6. Click here to pay the federal government.

  7. Click here to pay your state government.

Did this answer your question?