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Discussion in 'Business Operations' started by NewbieNC, Jan 1, 2007.
I was curious as to what % of your income do you escrow for paying taxes? Do you hold out 13%??
I made quarterlies at about 12.5% of unadjusted gross. I see you're a "newbie". Do not put your money into an account prior to paying them all at once. The IRS will penalize you. Make quarterly payments. Certain states get real aggresive about collecting quarterlies. Big penalties.
I pay the IRS Monthly.