Money Management
Tips for Living With a Fluctuating Cash Flow
How to manage your money is one of the first things that will change when moving from employment to self-employment. Moves from an environment that received income in equal amounts at set intervals to one where your income fluctuates.
Here are some tips :
ESTIMATED TAXES annoying
Enter the land of self-employment and enter the land of quarterly estimated taxes.
You pay income taxes estimated by the government says you owe. As they no longer have an employer to withhold taxes on income, tax authorities want to ensure that you pay.
One way to ensure you have cash on hand at the appointed hour is to mimic what your employer to do for you. Take a portion of money you receive and put it away. My solution Read the rest of this entry »