How Much Should Small Business Owners Save For Taxes?

Written By Jason Seckman

How much money should business owners save to pay for taxes?

Well, it’s important to know first how much money you have. Net profit is how much money you actually made in your business.

Income - Expenses = Net Profit

As a sole proprietor, single member LLC or partnership you should save roughly 25% of your Net Profit.

Create a tax savings account and put that money away monthly or quarterly.

Jason Seckman https://jbsmintaccounting.com
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