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25% ?


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Old 09-18-2006, 06:43 AM
LyricB LyricB is offline
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Default 25% ?

Whenever I do freelance work I put 25% of the pay right into a savings account which is only used for my freelance income. I'm guessing this should cover me when tax time rolls around. This will be my first time filing taxes with freelance income, so is there anything else I should be doing, or is this enough?
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Old 10-08-2006, 03:18 PM
Wayne68 Wayne68 is offline
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I work in the UK and put 33% away from everything I earn to cover taxes and National Insurance. Each year I will find that I have more than enough to cover these from what I have saved away and treat myself for all the hard work I have done!
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