Tax Preparation & Reports in Money Pro

Last updated
Save as PDF

Overview

Tax time doesn't have to be a scramble. If you've been using Money Pro throughout the year, your expenses are already categorized, your income is tracked, your mileage is logged, and your reports are ready to generate in minutes. That's the whole design: do the bookkeeping a little at a time throughout the year so April isn't a crisis.

Money Pro organizes your business finances around IRS Schedule C — the form sole proprietors and single-member LLCs use to report business income and expenses on their personal tax return (Form 1040). Every expense category in Money Pro maps directly to a Schedule C line. When you run a tax report, you get a clean breakdown that matches what your accountant or tax software needs.

For businesses ready to file, Money Pro integrates with Column Tax (also referred to as April Tax Solutions in some parts of the platform) — a DIY tax preparation service that auto-imports your Money Pro data, walks you through your federal and state returns, and lets you e-file directly. Federal + 1 state return is included with your Money Pro subscription.

If you're self-employed, the IRS also requires quarterly estimated tax payments four times a year. Missing these can result in penalties. Money Pro's tax dashboard estimates what you owe each quarter in real time based on your actual income and expenses in the system.

Disclaimer: Money Pro is bookkeeping software, not a tax advisor. Nothing in this article is tax advice. Consult a qualified CPA or tax professional for guidance specific to your situation.

ZenBusiness Money Pro is designed to help estimate tax payments based on the expenses and income you categorize from your linked bank accounts.

If you’re self-employed or run a single-member LLC, the IRS doesn’t withhold taxes from your earnings — meaning you’re responsible for paying income tax and self-employment tax (Social Security and Medicare). Rather than waiting until tax season, the IRS requires most self-employed individuals to make estimated tax payments four times a year.

Making quarterly payments:

Keeps you compliant with IRS requirements
Helps avoid costly penalties
Spreads out your tax burden across the year

Annual Tab (Year-to-Date vs. Projected)

Year-to-Date (YTD): The actual tax owed so far this year, based on real income and expenses entered to date
Projected: Your estimated tax for the full year, extrapolated from your last 12 months of data
If your projected annual tax is negative, the system will not generate quarterly estimates

Schedule C (Draft) Report

A complete listing of your deductible business expenses organized by IRS Schedule C category for any date range. This is what your accountant needs to prepare your return.

Profit & Loss Statement

Total income, total expenses, and net profit for any period. Required by lenders, accountants, and partners. A standard financial statement.

Mileage Report

Business trips with dates, destinations, purposes, miles, and the calculated deduction. Required for the business mileage deduction on Schedule C.

To generate any report:
1. Go to Reports in Money Pro
2. Select the report type
3. Set the date range (January 1 – December 31 for annual tax prep)
4. Click Download — PDF for sharing, CSV for spreadsheets or accounting software

Filing Your Taxes: Column Tax Integration

Money Pro includes free federal + 1 state tax filing through our integrated tax partner, Column Tax (also accessible as April Tax Solutions within the platform).

What's included:
- Your Money Pro income, expenses, and mileage auto-import — no manual re-entry
- Federal return + 1 state return per subscription year
- Step-by-step guided filing
- E-file directly from the platform
- Support available via chat within the filing experience

How to access:
1. Go to the Taxes tab in Money Pro
2. Click "File Taxes" — available starting January 1 each year
3. The IRS opens for filing approximately January 29 — that's the official start date for submitting returns
4. Your Money Pro data (business name, income, expenses, mileage, W-2 income) auto-imports into your return
5. Follow the prompts to complete and e-file

Tax filing deadline: April 15 for most filers. Extensions (to October 15) are available but don't extend the time to pay any tax owed — estimated taxes are still due by April 15.

Current limitations:
- Supports single-member LLCs (personal + Schedule C business taxes)
- Does not support multi-member LLCs, S-Corps, or C-Corps
- You are not required to file through Money Pro — you can use the reports with your own accountant or tax software

Column Tax / April Tax: Both names refer to the same integrated tax filing partner. You may see either name in the Money Pro interface.

Working With Your Own Accountant

If you prefer to work with a CPA rather than filing yourself:

Generate your Schedule C report and P&L for the full year (PDF + CSV)
Generate your Mileage Detail List for the full year
Share these with your accountant — they have everything needed to prepare your return

For extra support, ZenBusiness also partners with 1-800Accountant for unlimited tax advice and professional filing services.

Frequently Asked Questions

What's the difference between the Tax Details Report and the Schedule C Report?

Both show your business expenses, but they calculate two line items differently. Deductible meals: Tax Details shows the full amount spent; Schedule C shows the IRS-allowed 50% deduction. COGS: Tax Details groups it with total expenses; Schedule C separates it in Part I, Line 4. If your totals don't match between reports, this is why.

Can I file both my personal and business taxes through Money Pro?

Yes. Column Tax / April Tax supports single-member LLCs, meaning you can file both your personal Form 1040 and your Schedule C business taxes through the integration. Multi-member LLCs, S-Corps, and C-Corps are not supported.

When can I start filing my taxes?

The "File Taxes" button becomes available January 1 each year. The IRS officially opens for e-filing around January 29. You can complete your return before that date and it will be submitted when the IRS opens.

How do I pay my quarterly estimated taxes?

Money Pro calculates the amount but does not make the payment for you. To pay, visit eftps.gov to set up an EFTPS account and submit your quarterly payments directly to the IRS. Then record the payment in Money Pro so your projections stay accurate.

What if I have income that isn't tracked in Money Pro?

Money Pro only knows about income that flows through your linked bank accounts or is recorded as paid invoices. Income from PayPal, Venmo, cash, or unlinked accounts won't appear in your reports. Add it manually through the Income page or adjust your totals before filing. Your total reported income on Schedule C must match all income you actually received.

Still need help?

Reach us at (844) 493-6249, via live chat on your dashboard, or at support@zenbusiness.com. For tax questions beyond Money Pro's scope, ZenBusiness also partners with 1-800Accountant for professional tax advice.

How Tax Estimation Works in Money Pro

With Money Pro, tracking and preparing for your estimated taxes is easy. The tools included with your subscription help automate the process:

1. Real-Time Tax Estimates

Based on your income, expenses, and deductions, Money Pro estimates your quarterly and annual tax liability in real time.
Estimates are pulled directly from your Profit & Loss (P&L) statement within Money Pro.

2. Tax Profile Setup

Accurate tax estimates require a complete tax profile. Here’s what to include:

Federal and state filing status
Expected W-2 income (if any)
Estimated 1099 income
Deduction preferences (e.g., mileage vs. vehicle expenses)
State-specific exemptions

Note: If you live in a state with no income tax, such as Texas, set your exemptions to zero.

3. Tax Dashboard & Quarterly Tabs

Navigate to the Taxes section and select “Quarterly” to view your estimated tax obligations by quarter. These projections update dynamically as your data changes.

4. Tracking Tax Payments

There are two ways to record tax payments:

Marking expenses: On the Expenses page, mark a payment as a tax payment.
Manual entry: Go to Taxes → “+ Tax Payment” to enter the date, amount, and type of payment.
- Only do this if you’ve paid your tax payment from a personal bank account that you do not have linked to Money Pro

Money Pro does not integrate directly with the IRS to submit payments on your behalf. You will have to navigate to https://www.eftps.gov/eftps/ and set up an account to pay your estimated quarterly taxes.

5. Missed or Partial Payments

If a payment isn’t recorded, Money Pro will roll your unpaid balance into the next quarter and update your projections accordingly. For example, if you owed $11,000 but only paid $10,000, the remaining $1,000+ will carry over.

If you do not pay estimated quarterly payments, according to the IRS, “If you don’t pay enough tax through withholding and estimated tax payments, you may have to pay a penalty. You also may have to pay a penalty if your estimated tax payments are late, even if you are due a refund when you file your tax return.” - IRS

6. Tax Deductions and Mileage Tracking

Choose between actual vehicle expenses or mileage deduction — whichever gives you the bigger benefit. Toggle the in your profile to compare outcomes.

7. Reports to Support Your Filing

Money Pro provides tax-specific reports including:

Schedule C (Draft): Pulls in income, expenses, mileage, and business info for filing.
Tax Details for Filing: A full breakdown of categorized income and expenses, helpful for CPAs as they prepare your tax filing.

Access these in the Reports → Tax Reports section.

8. End-of-Year Filing

If you’re a single-member LLC, you can file your federal and one state tax return for free through Money Pro’s partner, April Tax Solutions. All business data entered into Money Pro is automatically imported into your tax return, including:

Business name
Income and expense data
Mileage
W-2 income (if applicable)

April supports federal + 1 state return per subscription. Multi-member LLCs, S-Corps, or C-Corps are not supported. You can start your tax filing within Money Pro each year in January. The exact date is dependent on when the IRS produces the final documents for each year’s tax filing. We will send an email to all Money Pro users to let them know when their included tax filing is available.

For more help with April you can visit the April Help Center. There will also be a chat button within the April tax experience for fast help.

Quarterly Tax Deadlines

Mark your calendar for these estimated tax payment due dates (hint: you can also see these in your compliance calendar in ZenBusiness):

The IRS requires estimated tax payments to be made four times a year:

Q1: January – March (Due mid-April)
Q2: April – May (Due mid-June)
Q3: June – August (Due mid-September)
Q4: September – December (Due mid-January)

FAQ's


What’s the Difference Between Year-to-Date and Projected Tax Calculations?	Your ZenBusiness Tax Dashboard offers multiple views to help you track and plan your taxes accurately throughout the year. Here's how to understand the difference between Year-to-Date (YTD), Projected, and Quarterly views: Annual Tab: YTD vs. Projected Year-to-Date (YTD): This shows the actual tax amount owed so far this year, based on your real income and expenses entered to date. Projected: This shows your estimated tax for the full year, based on income and expenses from the last 12 months. Quarterly Tab This tab breaks down how much is owed each quarter, based on the full year projection. If your projected annual tax is negative, the system will not generate quarterly estimates.
Do I need a CPA if I use Money Pro?	Not required, but recommended for complex cases. ZenBusiness also partners with 1-800Accountant for unlimited tax advice if you want extra support.
What’s the difference between the total expenses shown on the Tax Details Report vs. the Schedule C Report?	The difference comes down to how certain expenses are categorized and calculated in each report, especially for deductible meals and COGS (Cost of Goods Sold). Deductible Meals The Tax Details Report shows the full amount spent, regardless of how much is actually deductible. The Schedule C Report shows the IRS-allowed deduction amount. COGS (Cost of Goods Sold) In the Tax Details Report, COGS is grouped with total expenses. On the Schedule C Report, COGS is separated from operating expenses and appears in Part I, Line 4. If your totals don’t match across reports, it’s usually due to how deductions (like meals) and categories (like COGS) are treated. Still have questions? Reach out to our team. We're happy to walk you through it!
When can I start filing my taxes in Money Pro?	The "File Taxes" button will be available on the Money Pro "Taxes" page starting January 1st. The IRS opens for filing on January 29th, which is the official day you can start submitting your tax returns.
Am I required to file my taxes through Money Pro?	No, you are not required to file your taxes through Money Pro. You have access to various tax reports, which allow you to file your taxes in any way you choose.
Can I file my business and personal taxes with Money Pro?	Yes, Money Pro/Column Tax supports single-member LLCs, meaning you can file both your personal taxes and business taxes (Schedule C) through the platform.
Does Money Pro/Column Tax support multimember LLCs, S-Corps, or C-Corps?	No, Money Pro/Column Tax only supports single-member LLCs for personal and business taxes (Schedule C).