How do you plan for taxes so you’re not hit with a big bill unexpectedly?
Save for taxes as you earn, keep funds separate, and adjust payments so there’s no big surprise.
Unexpected tax bills usually come from not saving consistently. Set aside a portion of profit for taxes as you go, and keep it in a separate account so it isn’t spent accidentally.
Pay in throughout the year
If you expect to owe, make periodic payments or adjust withholding at a primary job to cover your side-business income. Consistent contributions prevent last-minute stress.
Keep records current
Track expenses, mileage, and fees to reduce taxable profit. Regular monthly reviews help you confirm whether your tax savings rate needs adjustment.
Saving with each sale and staying organized turns tax time into a routine task instead of a surprise bill.
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