Quarterly Tax Planning
Applies to: Quicken Business & Personal
Overview
If you’re self-employed or earn income outside of a W-2 job, Tax Planner in Quicken Business & Personal helps you estimate what you may owe in federal quarterly tax payments throughout the year.
Tax Planner uses the business income and expenses you’ve recorded to generate up-to-date estimates so you can plan ahead before payments are due.
This is for you if you don’t have enough tax withheld during the year, have side income, or your income varies from month to month.
With Tax Planner, you can:
See your estimated quarterly payment amounts
Track what’s due and when
Monitor whether your estimated taxes are trending up or down as your business changes
Note: Tax Planner provides estimates based on the transactions and information available in Quicken. It doesn’t file taxes or guarantee your final tax liability. For final guidance, refer to IRS resources or work with a tax professional.
Why Quarterly Payments and Planning Matters
If you’re self-employed or run a small business, you may be responsible for making estimated tax payments four times per year. Paying too little can result in penalties and interest, while paying too much can tie up cash you could use for payroll, inventory, or growth.
Tax Planner helps you stay proactive by showing how your estimated tax obligation changes as your income and expenses change—especially helpful when your income isn’t consistent month to month.
How It Works
Tax Planner estimates what you may owe each quarter based on the business activity you’ve recorded so far, including:
Income you’ve earned
Deductible expenses you’ve tracked
Your year-to-date taxable business profit
Tax Planner relies on transactions categorized as business income and business expenses to estimate your taxable profit and quarterly payment amounts.
Your estimate is based on your year-to-date activity and updates as new income and expenses are recorded, so the estimated amount may change over time.
Tip: If a transaction hasn’t downloaded yet, is still pending, or hasn’t been categorized correctly, it may not be included in your estimate.
Where to Find Your Quarterly Tax Estimates
To view your estimated quarterly tax payments, open Tax Planner from the left navigation.
In Tax Planner, you can review:
Tax Year (the year you’re viewing and your estimated annual taxes)
Summary (your progress from Q1 to Q2 and beyond as payments are marked paid)
Payments & Reminders (estimated payment reminders for each quarter)
Taxable Business Profit (profit to date and projected remaining profit)
Personal Income & Tax Profile (filing information used in the estimate)
Guidelines for Accurate Estimates
Tax Planner is only as accurate as the data you track. For best results:
Track all business activity
Connect or record the accounts you use for business income and expenses so your estimate isn’t missing transactions.
Categorize consistently
Uncategorized or miscategorized transactions can cause your estimate to be too high or too low.
Split mixed-use purchases
If a transaction includes both business and personal spending, split it so only the deductible portion impacts your tax estimate.
Check your estimate when things change
Large income months, new recurring expenses, or one-time purchases can shift your estimated payments quickly.
Remember what Quicken can’t see
Your estimate may not reflect major tax factors outside of your business activity (such as filing status changes, household income changes, or deductions you don’t track in Quicken).
Note: Tax Planner focuses on federal estimated taxes. Many states also require estimated payments, so you may need to plan separately for state taxes.
Examples
Irregular income
Sarah is a freelance consultant and her income varies month to month. Early in the quarter, her estimate is relatively low. Later, she records a large client payment and her estimated quarterly payment increases.
Outcome: She can set aside more money before the due date and avoid a last-minute scramble.
Major deductible purchase
James purchases new business equipment mid-year and categorizes it as a deductible expense. After the transaction is recorded, his estimated quarterly taxes decrease because his taxable profit is lower than it was before.
Outcome: He avoids overpaying and keeps more cash available for the business.
New self-employed income
Monica starts freelancing in May and begins tracking her business income and expenses in Quicken. As her transactions are categorized, Tax Planner estimates what she may owe for upcoming quarterly payments based on her year-to-date activity.
Outcome: She can plan ahead during her first year of self-employment instead of being surprised at tax time.
Using Tax Planner Over Time
A simple routine can help you stay ahead of quarterly payments:
Review your estimate monthly
Categorize new transactions promptly
Set aside tax funds as income comes in
Use Payments & Reminders to track upcoming due dates and mark payments as paid so your remaining estimates stay current
If Your Estimate Looks Off
If your quarterly estimate seems too high or too low, check for common causes like:
Uncategorized transactions
Missing business accounts or incomplete downloads
Mixed business/personal purchases that weren’t split
Mis-categorized income or expenses
Recent large transactions that haven’t been categorized yet
Common Questions
How accurate are the estimates?
Tax Planner estimates are based on your transactions and tax profile details. They generally become more reliable as the year progresses and more activity is recorded.
Does this include state taxes?
Tax Planner focuses on federal estimated taxes. Many states also require estimated payments, so you may need to plan separately for state obligations.
What if I overpaid earlier quarters?
If you’ve already made payments earlier in the year, Quicken reflects that when estimating what you may need to pay for remaining quarters.
Can I adjust the estimates manually?
If you expect unusual income, one-time deductions, or changes not reflected in your transactions yet, you may want to adjust your plan outside of Quicken or consult a tax professional.