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-   -   Taxes on a cleaning business (https://www.askmehelpdesk.com/showthread.php?t=262314)

  • Sep 17, 2008, 08:43 AM
    janelle28
    Taxes on a cleaning business
    I just started my own cleaning business and would like to know how much taxes to withhold from each check?
  • Sep 19, 2008, 02:54 PM
    Clough
    Hi, janelle28!

    I just moved your question to this topic area because I thought that it would get noticed more and answered to your satisfaction the best here.

    Thanks!
  • Sep 20, 2008, 05:22 PM
    MukatA

    Read about self employed tax filing and payment of estimated taxes: Your U.S. Tax Return: Tax Filing by Self Employed Sole Proprietor or Independent Contractor
  • Sep 23, 2008, 08:46 AM
    AtlantaTaxExpert
    If you just started, you should withhold about 25% from each check received and put it in a separate account so that it is available to pay your tax bill come 15 April 2009.

    If your gross receipts hit $50,000, up the percentage to 33%.

    Next year, you will have to make quarterly estimated tax payments using Form 1040-ES.

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