How to use the Estimated Tax Spreadsheet
The Estimated Tax Spreadsheet was created to assist in making estimated quarterly income
taxes easier to calculate. By entering the required information, the spreadsheet will
automatically calculate the estimated taxes due for each quarter
The Estimated Tax Spreadsheet consists of three tabs:
Tab 1 – Estimated Taxes
Tab 2 – Income
Tab 3 – Expenses
On the tab marked Estimated Taxes, all data that is entered on the income and expense
spreadsheets will be rolled up on to this spreadsheet. As you enter data for each quarter on
the respective spreadsheets, you will see the information on this page updated. You will not
enter any information manually on this page. Your quarterly net taxable income, as well as
your total taxes due for that quarter will be automatically calculated. The total tax due for each
quarter is what is to be paid to the IRS by the appropriate due date.
On the tab marked Income, all information regarding earned income is maintained here.
There are columns for: date income was received, description (this is where you will
document who you got payment from), income received, and mileage (only enter information
in this column if you are allowed to claim mileage for your job). The last column, mileage
expense is automatically calculated based on 51 cents per mile that the IRS has allowed for
2011. You are allotted 25 lines per quarter. All data entered in the income and mileage
expense columns will be totaled for each quarter. The data for each quarter will then be rolled
up on to the Estimated Tax spreadsheet.
On the tab marked expenses, all expense incurred related to your job will be placed here.
There are columns for a description of the expense as well as the amount paid. As with the
income spreadsheet, all expenses are totaled per quarter. You are allotted 10 lines per
quarter. The data for each quarter will be rolled up on to the Estimated Tax spreadsheet.
Disclaimer: This spreadsheet was created as a guide to assist in the calculating of estimated
quarterly taxes. Back On Track Solutions is not responsible for any errors made on these
spreadsheets. It is still your responsibility to check with the appropriate parties (i.e.: Tax
Accountant or IRS) should you have any questions regarding the quarterly taxes you need to
pay.
For additional information on how Back On Track Solutions can assist you with your
administrative needs, please contact us at 904 610-2581, send an email to
bot-solutions@bellsouth.net or visit our website at www.getbackontracknow.com.
Estimated Quarterly Tax
ES #1 4- ES #2 ES #3 ES #4
15 6-15 9-15 1-15-12
1-1 to 3-31 4-1 to 5-31 6-1 to 8-31 9-1 ro 12-31
Revenue $0.00 $0.00 $0.00 $0.00
Epenses $0.00 $0.00 $0.00 $0.00
Net before Auto $0.00 $0.00 $0.00 $0.00
Auto Mileage $0.00 $0.00 $0.00 $0.00
Net Taxable $0.00 $0.00 $0.00 $0.00
S.E. Tax (15%) $0.00 $0.00 $0.00 $0.00
Inc (10%) $0.00 $0.00 $0.00 $0.00
Total Tax Due $0.00 $0.00 $0.00 $0.00
Income
Mileage
Date Description Income Mileage Expense
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
1St QTR $0.00 $0.00
Income
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
2nd QTR $0.00 $0.00
Income
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
3rd QTR $0.00 $0.00
Income
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
4th QTR $0.00 $0.00
Total Work Related Mileage 2011: 0.00
Expenses
Date Description Expense
1st QTR $0.00
2nd QTR $0.00
Expenses
3rd QTR $0.00
4th QTR $0.00