I'm new at this too but here's what I do so far (sm)
Posted By: CAMT on 2007-05-16
In Reply to: Thanks! Still confused lol - tan
I started working at home as an IC MT just a little over a year ago, and I took out 20-25% of my paycheck and put it in savings. My husband works full time outside the home and we always get a pretty big refund at the end of the year. Basically, like another poster said, my taxes were basically just deducted from the refund we got back. We ended up taking the money I had saved up during the year and paying off a credit card, which was great. I don't know yet if I am going to get a quarterly tax bill from the IRS but I am still continuing to take the 20-25% out of each paycheck so I know I will be able to cover it. Hope that clears things up for you a bit. I know every situation seems a little bit different. I think as long as you are setting money aside you'll be okay.
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