How Much Should a Freelancer Save for Taxes? A Simple Formula
You did it. You landed the client, you poured your heart into the work, and now the payment has finally hit your bank account. That number looks good. *Really* good.
You did it. You landed the client, you poured your heart into the work, and now the payment has finally hit your bank account. That number looks good. *Really* good.
You did it. You actually turned your skills into a real, profitable freelance business. The clients are rolling in, your income is finally growing, and you're feeling that sense of freedom you always dreamed about. It's an incredible feeling.
So, you did the smart thing. You formed an S-Corp to optimize your taxes and take home more of your hard-earned money. It felt like a major win. But now a single, nagging question has started to creep in, probably late at night: "Am I paying myself *enough*?"
You’ve done everything right. You’ve hustled, landed the clients, and delivered incredible work. Your income is finally growing, and for the first time, you feel a real sense of stability in your freelance business. It’s a fantastic feeling.