How much removed and sat aside for taxes?

[syzer]

Havent seen much in the searches I have done, and dont feel like digging all evening. What do you guys sit aside each week, month, quarter, etc. for uncle sam? I am trying to venture on my own and need to make sure I can afford it first.

Thanks,

Chris
Precision Landscaping

[SodFather]

I just give my accountant my Montly deposits and he figures it out. Most of the time 8% on the side.

[SummitFarmer]

Agreed have your accountant figure it out or give you some idea. I would try to err on the "too much" side however, that way you will hopefully avoid any penalties. A lot of the business magazine web sites have sections for "small business". They are LCO specific but give you a good general view on things like taxes, marketing management etc.

http://www.businessweek.com
http://www.successmagazine.com


Take it light....

Summit Farmer

[awm]

I go along with these other guys.Most everybody
I know does it this way.huh guys

[Cleve]

Just some suggestions but, If you now have another job, start taking out extra from your payroll check NOW. And make sure that you document everything purchased, miles traveled, and anything else necessary for the lawn business. If done carefully and accurately you might not have to pay a chunk when doing the taxes next year. Keep lots of paperwork and file it carefully so that you can access it when necessary a year (or many years) down the road.
Just my .02 worth.
Cleve....

[TJLC]

I don't set anything aside. I just write a check for the amount my accountant tells me. I put so much each month in checking and so much in savings. I draw out what I need, as the need arises.