[Hidden-tech] Question re: finances

[Don Lesser]

When I was a freelancer, I simply took 25% of every check and deposited it
into a separate bank account BEFORE I DID ANYTHING ELSE with the money. As
long as I had the discipline to do that, I had my quarterly payments. You
might want to go to 35% to guarantee you had enough. 

Don Lesser
Pioneer Training, Inc.
14 Bobala Road
Holyoke, MA 01040
(413) 536-1030 (phone)
(413) 552-0472 (fax)
dlesser at ptraining.com
www.ptraining.com

-----Original Message-----
From: hidden-discuss-bounces at lists.hidden-tech.net
[mailto:hidden-discuss-bounces at lists.hidden-tech.net] On Behalf Of Jeff
Rutherford
Sent: Wednesday, July 12, 2006 7:43 AM
To: hidden-discuss at lists.hidden-tech.net
Subject: [Hidden-tech] Question re: finances

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Here's a question for everyone.

Since I absolutely hate having to keep track of quarterly estimated
taxes (several times I've had to scramble and come up with large sums to
cover taxes), I'm wondering if a service exists to deal with this.

Ideally, what I would like to do is have a service similar to
Administaff or Paychex where every time I received a contractor payment
from a client (with no taxes deducted of course), that I could send the
gross amount to the service and they would deduct the appropriate
amounts of taxes, FICA, etc., and take care of those payments so that I
don't have to keep track of those amounts.

I don't know if something like this exists. Of course, I could hire a
bookkeeper, but I'd rather have a service that automatically deducts
those taxes from the various payments I received, and keep track of
those taxes for me.

It's my understanding that the two services I mentioned above are set up
to handle a regular salary situation vs. a fluctuating contractor income
that is not the same every month.

Any ideas would be appreciated. Thanks.

Jeff

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