Taxes Got You Down?

Here is the deal.

As a small business owner, we are responsible for paying taxes. Yeah you know that stuff that comes out of your paycheck each week?

It sucks, but it is a fact of life. Something like death and taxes……

A best practice is to keep 30% of all PROFIT for taxes.

Why?

Well if you do an estimate in regards to taxes, you are going to pay around 20% of your profit in taxes. The recommendation is to save 30% to encourage you to save an extra 10% in savings.

Now, how do you automate this process?

I found a new little tool that makes this so much easier.

It’s called Qapital.

I stumbled across this little tool the other day and I love it.

Why am I posting this link?

Well. If you sign up through it, you will get $10 with your first deposit (and I will then get $10).

There are two different things that I love about this app:

  1. I have a rule set up that is referred to as the Freelancer rule. It sets aside 30% of all deposits over a certain amount. This allows me to not worry about setting this aside and makes sure I have this when it is time for taxes.
  2. I also have that fancy little weekly savings thing set up. Like the one shown below:

52WeekReverse

Now….Want a free $10? Sign up below:

http://get.qapital.com/bzAc/7wuWiTXhuq

CW

One thought on “Taxes Got You Down?

  • February 7, 2016 at 1:35 pm
    Permalink

    Unless you have an android phone lol.

    Reply

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