topic Re: Discrepancy between products in Self employed

Discrepancy between products

tayloredurogyn — Tue, 24 Feb 2026 07:01:59 GMT

Why is there such a huge discrepancy between Intuit Self Employed Quickbooks in terms of quarterly tax calculations and what actual 2023 Tax law is?

I use Intuit Self Employed Quickbooks, had a CPA review my books and there was a >$25,000 discrepancy in what I owed in federal quarterly taxes.

One issue is the software still uses the 2022 100% meal coverage law.

What will Intuit due to reconcile these discrepancies?

Had I not had a CPA review my books I would have had sticker shock in April 2024.

Re: Discrepancy between products

LoraineG — Wed, 30 Aug 2023 23:37:08 GMT

Hi @tayloredurogyn we see each other again!

There's a couple factors that need to be considered and may affect the outcome.

Bookkeeping for taxes and bookkeeping for financial/accounting reporting sometimes differs.
Did the CPA made adjustments to your books while reviewing them?
Your previous post says that you were considering an entity change, how is it setup in QBs? Is it setup for LLC single member or for S-Corp?

Also I would like to understand, what caused the discrepancy? What changed?

I'm an Enrolled Agent, but I'm an Accountant/Bookkeeper as well. I do know that for meals (bookkeeping wise) there's no adjustment for the 50% allowable.

I suggest that you may want to contact Quickbooks if you still feel that the calculations are off. Also I would suggest to have the CPA to set up your accounts (or review them) to make sure that they are using the right settings.

Here's an article I found from QBs: Automatically estimate your income tax in QuickBooks Self-Employed

Feel free to post any additional questions you may have.

Re: Discrepancy between products

rschule1 — Wed, 30 Aug 2023 23:40:58 GMT

Hi there:

I believe Quickbooks quarterly calculation to accurate. However it is dependent on accurate bookkeeping entries, which includes designating meals as 100%, 50% or 0% deductible. Customer service at Quickbooks will be able to guide you through proper setup.