Since Found has all of your business income and expenses in one place, we can automatically estimate your quarterly taxes throughout the year as you earn income and log expenses.
Each quarter, subscribers to Found Plus⁴ who file a Schedule C can even pay their quarterly taxes from within the app.
Here’s how:
Step 1: First, make sure that you’ve tracked all of your business income and expenses in Found and that your tax profile is up-to-date. These are important inputs into calculating an accurate quarterly tax estimate.
Found Plus subscribers⁴ can make a payment within the app starting on the 1st of the month when payments are due. During this tax payment window, select Make a payment under your quarterly tax estimate in the Taxes tab.
Step 2: On this next screen, you will be directed to pay federal income taxes and state income taxes, if applicable in your state.
Step 3: First, pay your estimated federal income taxes.
To do this, select Make a payment to make this payment from within the app.
Step 4: Select Next on the next screen, confirm the amount, and then click the final button to initiate the payment.
Found will send a payment to the IRS on your behalf, accompanied by a Form 1040-ES (Estimated Tax for Individuals) completed with information from your tax profile in Found.
Note: alternatively, all Found subscribers can use the unique account number from their Taxes Pocket to make a manual payment of estimated federal income taxes on the IRS website directly. Visit the IRS Payments website and select Direct Pay with Bank account to get started. When prompted, enter the payment amount and enter your account number from your Taxes Pocket to pull funds from that Pocket.
Step 5: If applicable, make your estimated state income tax payment.
To do this, use your Found account and routing number to complete the tax payment on your state’s website. We will mail you a link to this site and also direct you there from this final screen in the app.
