How do I classify my Estimated Tax Payments?

Your CPA or tax preparer may have a specific place they like to see this. Generally we classify all tax payments as Other Expenses. This way they will show up at the very bottom of your Income Statement, after your Gross Profit has been listed.

With the Chart of Accounts window open, press the Account button at the bottom left (or CTRL + N) > Choose Other Account Types > Choose Other Expense:

How to classify your estimated tax payments

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