Estimated Quarterly Tax Spreadsheet
The Estimated Quarterly Tax Spreadsheet is perfect for freelancers, small business owners, consultants, and anyone who makes money without having state and federal taxes automatically withheld at payment. Updated with 2021 mileage and tax rates
About the Estimated Quarterly Tax Spreadsheet
✓ Updated with 2021 mileage and tax rates
✓ Automatically keep your tax finances organized
✓ Effortless tax prep with everything in one place
✓ See real-time estimates of state and federal taxes owed
✓ Know when your next tax payment is due
Effortlessly categorize business transactions
See business transactions from your credit cards, bank accounts, loans, and other accounts together in one dashboard.
Categorize and tag business transactions in minutes, or use AutoCat for Google Sheets to automatically categorize transactions based on your custom rules.
Estimate what you’ll owe in real-time
See real-time estimations of what you owe for the quarter. Use manual adjustments to project liability for the year ahead.
See net profit & estimated tax detail by quarter
The Net Profit & Estimated Tax Detail by Quarter report offers a view of your quarterly earnings, spending, net profit, and estimated taxes. It also includes helpful reminders of reporting period date ranges and payment due dates.
Easily track income & expense transaction data
The Income & Expense from Transactions report provides a summary of business income and expenses based on categorized data in the Transactions sheet.
Profit & Tax Payments Summary
The Profit and Tax Payments Summary provides a quick view of quarterly net profit and estimated tax payments. The estimated tax payments are broken down by cumulative quarterly total, estimated federal and state payments, and the tax payments you’ve already made.
Business Income/Expense Category Detail by Quarter
See a breakdown of your spending and earnings organized by type (income vs expense), group, and categories.
Easily track itemized deductions
The Estimated Quarterly Tax sheet defaults to the standard deduction based on your filing status. However, you can itemize your deductions by following these rules. Consult with your tax advisor on whether you should use the standard deduction or an itemized deduction.
- See quick expense totals and spending for all business expense categories.
- Track and estimate home office deductions, including rent or mortgage interest, utilities, and insurance on your office.
- Track business mileage based on the IRS’s standard rate for the tax year.
Easily adjust income & expenses
Easily make manual adjustments to spending and earnings for accuracy
Share your tax sheet with a partner
Because the Estimated Quarterly Tax template is based in Google Sheets, it’s easy to share access with your accountant, tax preparer, and business partners.
Note: this tool is not recommended for those with complex tax situations, those who may be subject to Alternative Minimum Tax, multi-member LLCs, partnerships, or LLCs taxed as an S-Corp. Review the Assumptions and Expectations for more information about how to use this tool.