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How much should I set aside for taxes?
ExportMark as publishedHow much should I set aside for taxes?
Most EasyTax customers set aside 25 to 30% of each payment, and new users start at 30%, because first-year freelancers tend to underestimate self-employment tax.
Self-employment tax alone is 15.3% of net earnings, which the IRS splits into 12.4% for Social Security and 2.9% for Medicare.
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