Ask How do freelancers determine the correct percentage to save for annual tax obligations?

Edward22

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Freelance income does not come with taxes automatically removed by an employer, and that can make financial planning difficult. Some payments are large and create a false sense of security, while other smaller payments leave little room for setting money aside. This can affect your ability to pay large government bills when they are due at the end of the year. It also requires discipline to avoid spending money that actually belongs to the tax office. How do freelancers calculate their tax set aside amounts and stay stable even when payments are not consistent?
 

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