How To Track Your Income & Expenses & Calculate Your Quarterly Estimated Taxes Yourself using Excel | Desarie Anderson | Skillshare

How To Track Your Income & Expenses & Calculate Your Quarterly Estimated Taxes Yourself using Excel

Desarie Anderson, Cash Flow Management

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15 Lessons (1h 42m)
    • 1. 1 Introduction

      1:33
    • 2. The Agenda

      0:55
    • 3. 3 Who is required to pay estimated taxes

      5:38
    • 4. 4 How to calculate your estimated taxes

      7:15
    • 5. 5 Quarterly Estimated Tax Due Dates

      2:07
    • 6. 6 How To Set Aside Monthly Estimated Payments

      2:17
    • 7. 7 Different Ways To Pay Your Quarterly Estimated Taxes

      3:13
    • 8. 8 Estimated Tax Payment Penalties

      4:43
    • 9. 9 Introduction To The Hands On Demonstration

      4:42
    • 10. 10 The Instructions Tab

      2:15
    • 11. 11 The Chart of Accounts Tab

      4:17
    • 12. 12 The Transaction Tab

      4:41
    • 13. 13 Entering Transactions To Calculate Your Estimated Taxes

      20:56
    • 14. 14 Calculating Your Quarterly Estimated Taxes

      36:13
    • 15. 15 Final Message Regarding Future Updates

      1:37

About This Class

What you will learn in this class:

1) Who is required to pay estimated taxes and why?

2) Calculating your quarterly estimated taxes

3) When are your quarterly estimated taxed due?

4) All the different ways to pay your estimated taxes

5) What are the penalties for not filing your estimated taxes?

6) A hands-on demonstration on how to use Excel to calculate your estimated taxes.

The spreadsheet functions as a simple bookkeeping system and a quarterly tax estimated calculator.  You will be able to not only record and keep track of your income and expenses, but you will also be able to calculate your federal quarterly estimated taxes.

If you already use an outside bookkeeping system, like Quickbooks Online, but the system you use is not able to calculate your quarterly estimated taxes, you can use the spreadsheet as a calculator ONLY.  You do not have to use the spreadsheet to track your income and your expenses in order to use it to calculate your quarterly estimated tax payments. 

The spreadsheet is set up to track your income and expenses from 2017 through 2024.  Each year has its own sheet. 

You can also use the spreadsheet to project future growth rates using built-in growth rate percentages

The spreadsheet is limited to the following people:

1) Your tax filing status at the end of the year is single, and you make $157,500 or less a year

2) Your tax filing status at the end of the year is Married Filing Separately, and you make $157,500 or less a year 

3) Your tax filing status at the end of the year is Married Filing Jointly and together you both make $315,000 or less a year 

4) Neither You nor your spouse if you are Married Filing Jointly, receive W2 income from an employer 

5) Your income can only be derived from self-employment or investment income

6

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Desarie Anderson

Cash Flow Management

I am originally from London, England but currently live in Atlanta, GA with my husband David.

I always joke that I have had the distinct pleasure of using both the left and right side of my brain. I owned and operated a hair salon for over 17 years (Right side), and now I own a small Tax and Accounting practice (Left side). So you can get your hair cut & colored and get your taxes done all in one visit.

I graduated from Georgia State University with a BA in Accounting. I am...

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