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Rathji · 03-03-2013, 09:27 PM

I have started doing some consultant work on the side, on top of my full time (salaried) position. I am trying to figure out how much of my consulting fees I need to be setting aside for tax purposes. For example, using nice round numbers, say I was earning $50,000 salary with deductions etc taken off by my employer and brought in $1000 a particular month through consulting.

I am looking for a way to figure out what I should set aside for taxes every month, even if that amount varies, like $500 extra one month and $2000 the next.

Is this something that is easily done in a spreadsheet, or should I be finding a couple viable hobo's for Locke?

03-03-2013, 09:27 PM	#1
Rathji Franchise Player Join Date: Nov 2006 Location: Supporting Urban Sprawl Exp:	Tax Question - Consulting I have started doing some consultant work on the side, on top of my full time (salaried) position. I am trying to figure out how much of my consulting fees I need to be setting aside for tax purposes. For example, using nice round numbers, say I was earning $50,000 salary with deductions etc taken off by my employer and brought in $1000 a particular month through consulting. I am looking for a way to figure out what I should set aside for taxes every month, even if that amount varies, like $500 extra one month and $2000 the next. Is this something that is easily done in a spreadsheet, or should I be finding a couple viable hobo's for Locke? __________________ "Wake up, Luigi! The only time plumbers sleep on the job is when we're working by the hour."