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My accountant friend said something about quarterly taxes that finally made sense
I was complaining about my tax bill over coffee with a friend who does books for small businesses. He looked at my spreadsheet and said, 'You're treating taxes like a bill, not a cost of doing business.' He showed me how to take 25% of every single payment into a separate account right away, before I even think about spending it. I used to just guess and scramble every three months, but now I set up an automatic transfer. It's only been a cycle, but I'm not stressed about April for the first time. How do you guys handle setting aside money for taxes without it feeling like a huge hit?
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taylor.jessica1mo ago
Labeling every transfer sounds like a lot of extra work to me. I just do one big move at the end of the month. Looking at every single client payment and tagging it would make me think about taxes way more than I want to. The goal is to get it out of sight, not to keep a running count that I check all the time. Doesn't that constant reminder just make it feel more present?
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uma_lopez1mo ago
Honestly, that separate account trick is a lifesaver. Tbh, I also label every single transfer in my banking app with the client's name and "TAX" so when I look back, I see a running total of what's already set aside. It makes the whole thing feel less like lost money and more like a task I've already finished.
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