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When you’re self employed, you have to work out your taxes with each paycheck. I didn’t do this when I first started, so had to pay in a lot that I didn’t have one year. Thankfully each time I get paid, I take a portion of it out and put it into my savings. This way, at the start of the new year I can file and have enough saved to pay in.
Just make sure to calculate your taxes and save enough through the year, and you’ll be good to go. 🙂
I take a portion out of each paycheck, because I know if I don’t I’m going to be paying a ton in at the end of the year. And I just don’t want to deal with that.
With two shots of bourbon 🙂
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