Estimated tax
Quarterly income-tax payments owed when nobody withholds for you. The tax calendar shows the four dates.
In Solo Superstars
For pass-through owners the payment is a draw, booked to Owner Estimated Tax Payments, never an expense. Tax Watch reminds you as each date approaches.
Example
April 15 payment of 2,500 to the IRS: debit 3220 2,500, credit 1010 2,500.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- quarterly taxes
- estimated payments
Related
- 3220 Owner Estimated Tax Payments — Quarterly estimated income tax paid from business funds on behalf of a pass-through owner. A draw, not a business expense.
- Tax calendar — The upcoming filing and payment dates that apply to you: estimated taxes, sales tax returns, 1099 deadline.
- Tax Watch — Alison’s book-based tax warnings: a 1099 threshold crossed, sales tax collected in a state you have not set up, a quarterly date approaching.
- Owner draw — Money you take out of the business for yourself. Not an expense and not salary; it reduces equity.