In time for 2023 third quarter estimated taxes, Seller Ledger has released a new feature to make calculating your tax obligation easy.
New “Quarterly” taxes tab
Under the Taxes section, you will see a new tab labeled “Quarterly”. Clicking on it will bring you to a screen like this:
Seller Ledger now estimates your quarterly tax payments based on your year-to-date business results and shows you the correct payment deadlines for the selected year. We take care of the rates for Social Security and Medicare, and let you choose the federal income tax rate that applies to your situation (see the new “Business” tab under Settings:)
If you under- or over-pay for one quarter, Seller Ledger will remember that for future quarters. To record payments, just use the new “Estimated tax” category that has been added to your account, so Seller Ledger knows to apply the payment correctly.
As always, feedback is very much appreciated, so let us know how we can improve things at [email protected].