I’m self employed and need to withhold taxes for quarterly payments. My workflow looks like this: Money goes into automatically-tracked checking account I transfer withheld money to a manually-tracked withholding savings account Every quarter I transfer withheld money from withholding savings acc…

It’s all just transfers between accounts until the money actually leaves for the estimated payments to the government. Then it should be classified to a category such as “Federal Estimated Payments” or “State Estimated Payments”. I suggest making sure you keep them in a savings account separate from…

Agreed, assuming all of your various accounts are linked to your spreadsheet, using the transfer category as funds are moved from one account to the next would be the best option. Once the payment is made… as @Kathryn stated, you can use a category such as “Federal Estimated Payments”

Thanks. Not totally sure I’m clear on the solution. I get they’re transfers. But I want to understand: The amount I’ve set aside for tax payments The amount I actually paid Are either of you actually solving this problem? If so, what categories and category types do you use in your workflow? …

@rmr , What do you mean by “manually-tracked withholding savings account” - does that mean it’s an account that Tiller can’t automate, but it is an actual savings account you have at a bank, or it’s a “virtual” savings account that you’re tracking manually within Tiller to try and keep this organize…

[image] heather: What do you mean by “manually-tracked withholding savings account” - does that mean it’s an account that Tiller can’t automate, Correct, it’s an account Tiller can’t automate. Are you also recording the transactions for this “manually tracked withholding savings account” in…

@rmr 3 should be coded as a transfer. This makes sense to me and would be how I would account for it. Blake

@Blake Yes, #3 is coded as a Transfer. Edited the above post to include that. Thanks!

I am having the same issue. I am a 1099 Sales rep. To be safe, I calculate around 23% to be withheld for taxes each check. One check may be $X amount and another would be $X amount. Could be less, more, really low, really high, or the same. It fluctuates a ton, and until I have more data throughout …

Any suggestions here @jpfieber @Mark.S ? Sorry to put you on the spot but thought your brilliance could help here :dizzy:

@3legendre let us know if any of those suggestions are helpful. Thanks again @jpfieber !

How to treat tax withholding?

Spreadsheets Google Sheets

jpfieber May 13, 2025, 3:12pm 11

I haven’t had to do this for myself, but as the others have suggested, moving money around should generate transfer categories. To track the money, I wonder if using a tag, or one of the envelope solutions might make sense. Also, maybe a 🏆 Budget Status - Google Sheets pool could be used.

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How to treat tax withholding?

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