Skip to Content
Money and insightsTax estimate and Schedule C

Tax estimate and Schedule C

Groomr uses your books to estimate what you might owe each quarter, and at year-end lays your income and expenses out on the lines of IRS Schedule C. Use the estimate when a quarterly payment is coming up, and the export when you or your accountant prepare your return.

These are starting points built from your books. They aren’t tax advice, so check them with your accountant before you pay or file.

Ask Groomr

“What do I owe in estimated taxes this quarter?”

Groomr shows the estimate for the quarter: your net income, self-employment tax, estimated income tax, the payment and its due date. Name a quarter or year to see a different one, such as “Q2 of last year”.

The Schedule C export isn’t available in chat. Download it from the Tax page as below.

Or do it yourself

See the quarterly estimate

  1. Open More → Bookkeeping → Tax.
  2. Under Quarterly Tax Estimate, pick the Quarter and Year.
  3. Read Net Income, Self-Employment Tax, Est. Income Tax, Effective Rate and Quarterly Payment Due, with its due date.

Download your Schedule C

  1. Open More → Bookkeeping → Tax.
  2. Under Schedule C export, pick the year. The totals appear by line under Part I — Income, Part II — Expenses and Part III — Net profit.
  3. Select Download CSV for a spreadsheet, or Download IRS PDF (draft) for the form itself.

Contractor 1099-NECs are on the same page. See Payroll and contractors.

Good to know

  • How the estimate is worked out. Net income is your revenue minus your expenses for the quarter. Groomr applies a simplified model: 15.3% self-employment tax, and a 22% income tax rate. It’s a federal estimate only. Your real amount may differ.
  • Due dates shown are April 15, June 15, September 15 and January 15 of the next year.
  • Where the Schedule C lines come from. Each expense lands on the line its category maps to. Finalized payroll adds employee pay as Wages and contractor pay as Contract Labor. To change which line a category uses, see Bookkeeping.
  • What the PDF leaves blank. The draft PDF fills in your business name, expense totals and the line 28, 29 and 31 totals. It leaves your SSN, EIN, NAICS code, address, depreciation, interest, employee benefits and home office blank on purpose. The export doesn’t capture those items either.
  • Form year. The PDF uses the 2024 Schedule C layout. For other years, lines map to that layout.
  • Who can see it. The estimate and the Schedule C export need the Bookkeeper skill in your role, which Owner and Admin have by default.
Payroll and contractors