Breaking it Down: Basics of Estimated Taxes


If you’re a self-employed contractor or freelancer, you know how confusing estimated taxes can get. It can be difficult to estimate how much of each check you need to set aside, not to mention tempting. There’s no employer there to automatically take it out of your check every week. YOU have to do it, which is something that’s gotten many self employed people into a pickle before.

To set the record straight, check out these guidelines from the IRS on who should be saving and how much you should be saving throughout the whole year.