New Feature Alert: Tax Planner for Quicken Business & Personal!
We’re excited to introduce Tax Planner, a new tool designed to help you plan ahead for quarterly estimated tax payments. This feature is now available in Early Access on the Quicken Business & Personal Web and Mobile Apps!
Why use Tax Planner?
Tax Planner makes it easier for business owners and sole proprietors to estimate their tax liability — especially if your income or business circumstances have recently changed. It takes the hassle out of planning so you can focus on running your business.
(Note: Tax Planner is for estimation purposes only and should not be used for official tax filing.)
How it works
The Tax Planner walks you through the setup step by step:
- Choose your filing status
- Enter your expected W-2 income
- Select your deductions
- Choose the account you’ll pay taxes from
From there, Quicken Business & Personal calculates your estimated quarterly payments and creates a recurring series with quarterly reminders.
Stay in control
- Manage payment reminders by linking them to downloaded transactions, creating manual transactions, or dismissing them.
- Edit on the fly — update any tax payment reminder, the recurring series, or even your filing details, directly from the Tax Planner.
- Customize estimates in the Business Income & Expenses section by entering your own numbers if needed.
What you’ll see
- Summary: Tracks progress from Q1 to Q2 and so on as payments are marked paid.
- Reminders & Payments: Lists your estimated payment reminders for each quarter.
- Business Income & Expenses: Displays your income, deductions, and remaining taxable profit.
- Filing Details: Shows and lets you edit your setup information.
- Tax Year View: Quickly switch between years for easy planning.
How we estimate your business income and deductions
- When you categorize business transactions, there are tax line items tied to the categories. We use these tax line items to calculate your income and deductions.
- Behind the scenes, we generate a tax report based on your transactions to estimate your tax payments. You also have the option to enter your own numbers if you prefer.
- In the future, you’ll be able to see exactly which transactions are used to calculate and estimate your tax payments.
Go ahead and try out the Tax Planner today to start simplifying your estimated tax payments!
We’d love to hear your thoughts—please visit our feedback post to share your feedback.
-Coach Natalie
Comments
-
The Tax Planner is now live for all users on the Quicken Business & Personal Web App! We’re also rolling it out to all users on the Mobile App later this week.
In addition, we’ve made a few enhancements you’ll notice right away:
- Business Income & Expenses Card Updates
- This card is now called Taxable Business Profit.
- The labeling has been updated — you’ll now see “Projected remaining profit” instead of “Deductible expenses.”
- In the Edit screen, a new “Projections on” toggle allows you to turn projections off and enter custom amounts more seamlessly.
- Also in the Edit screen, instead of individual quarters, you’ll now see “To date” and “Rest of year.”
- Other Enhancements
- The progress bar previously found on the Quarter Summary card has been moved to the Payments & Reminders card.
- The Estimated annual taxes total at the top of the page will now exclude W-2 withholdings, since those taxes are already handled by your employer.
We hope you enjoy these improvements and find them helpful in planning your taxes more efficiently!
-Coach Natalie
0 - Business Income & Expenses Card Updates