Just read that 58% of freelancers don't set aside money for taxes each month

I found that stat in a report from a freelance platform I use. It really hit me because I used to be one of them, scrambling every quarter. I've been putting 30% of each payment into a separate account for the last six months, and it's made tax time way less scary. Anyone else have a set percentage they save for taxes?

4 comments

4 Comments

joseph95724d ago

What percent do you save?

laura_wilson24d ago

Totally agree, trying to hit 20% myself but it's tough some months.

corap6124d ago

How much do you think is enough to set aside?

ninar6824d ago

Wait, 58%? That's wild but I get it. I got burned bad my first year. I save a flat 25% from every single check, no matter what. It goes straight to a savings account I pretend doesn't exist. Makes April just another month.