I recently discovered the “Estimated Quarterly Tax Sheet” add-on. Looks great!
In my use case, my self employment (Schedule C) income mostly as a side gig (not my only income). I have full time employment as does my spouse. So the bulk of our joint tax owed is already withheld; however, I do pay additional estimated taxes to account for the additional self employment income (which varies a lot for us quarter by quarter).
My question is: is there a way to tell the calculator to start with the assumption that we have a base income that will affect our tax brackets? It seems like the calculator is assuming that the self-employment income is our only income when in fact it’s kind of being added on top of what we are already earning. For example, I would want it to start with a base expectation we are earning … say … $90k as a family and then calculate the bracket based on that.
Is there any way to get the template to behave this way as well?