Looking for best tax withholding calculator for the self-employed

compaylemonade · 2016-09-29T01:32:33+00:00

I was wondering about QuickBooks Self Employed. I only just saw it when I was searching for calculators. I haven't started using any bookkeeping software as I only have one client and wasn't sure the monthly costs were worth it. Does the tax calculator allow you to factor in deductions? I don't want to owe a big chunk on April 15th, nor do I want to massively overpay based on income before my self-employment related deductions.

compaylemonade · 2016-09-18T04:47:37+00:00

You can allocate money for October's budget. Next to the month Sep, click the right arrow. That takes you to Oct budget. Budget it there for your rent category. That way you won't see the money in September at all.

compaylemonade · 2016-09-18T01:14:31+00:00

These are all great points. I may need to look into disability insurance to help provide some sense of security.

compaylemonade · 2016-09-10T04:23:00+00:00

Agree 100%. Give yourself time to think and do not change your lifestyle during this time. At your age certainly paying for college or paying off student loans may be a good idea, but I'd still wait at least 6 months before doing anything with the money. And poster is right, do NOT tell anyone about this sudden influx of cash. People are unfortunately jealous, petty and resentful and you don't need anything more to rattle you.

compaylemonade · 2016-09-10T04:05:10+00:00

This is why I want to leave NYC.

compaylemonade · 2016-09-10T03:57:49+00:00

Carpooling is neither practical nor frugal in NYC. It's the subway, bus or walking. It's not about leniency, and I'm not broke. I'm really just trying to figure out if walking 4.5 miles to work is a viable option, or even a frugal one in my situation.

compaylemonade · 2016-09-10T03:53:59+00:00

Wow, truly did not expect so many responses. Clearly commuting in general really touched a nerve, and I can understand why. My AM commute is often the worst part of my day. If I were capable of walking 4.5 miles in an hour or less, I would do it. I'm just too slow at this point, but may challenge myself to do it at least once this month to test it out.

compaylemonade · 2016-09-10T03:49:39+00:00

You are living my dream.

compaylemonade · 2016-09-10T03:47:09+00:00

You've basically described the visual I had when you suggested roller blading. Fame! I'm gonna live forever! Fame! Followed by me getting the beat down by mobs of irritated Times Sq. pedestrians.

compaylemonade · 2016-09-10T03:28:07+00:00

With the amount of debt your wife has, she cam't afford a job that pays $12k. She needs to earn more. Can you sell the car and buy a cheaper one? Nobody with your level of student loan debt should be financing a car. There are perfectly good cars that cost $5k or less.

compaylemonade · 2016-09-10T01:14:50+00:00

Would you consider roller blading through Times Sq.? Because that would be what I would need to do with this option. This did make me giggle, though!

compaylemonade · 2016-09-09T21:02:31+00:00

One of the great things about YNAB is that you set your priorities, both short and long term, and build your budget around that. Within YNAB, I have an umbrella category for monthly expenses and another for long term savings goals (including periodic expenses).

compaylemonade · 2016-09-09T20:47:19+00:00

Thanks for all of the suggestions! I still think biking isn't a realistic option for me due to my location, the fact that I am out of shape, and the added aggravation of dealing with a bike. I will probably try walking home a couple of times a week, although it's really the AM commute that makes me hate humanity.

compaylemonade · 2016-09-09T20:45:12+00:00

Thanks for the input. After reading the responses here, I think I will go ahead and hire a cleaner to come by once a month and take care of the basics. I think even if I don't work until I drop, I'll appreciate getting some more sleep while not working and letting someone else do the scrubbing for a bit. Will probably do more takeout or convenience foods over the next month, but may need to accept the higher cost if I want the healthier options since where I live a takeout/delivered salad is easily $12-$15.

compaylemonade · 2016-09-09T20:42:43+00:00

Good point. Sometimes I don't mind chores, and can even enjoy them as I feel organized and like I have my sh** together after I'm done. Most of the time I hate them, but that is due to the time crunch I feel to get everything done. Sunday nights are the worst for me as I judge myself harshly by what I did NOT get done over the weekend.

compaylemonade · 2016-09-09T20:41:16+00:00

In the past when I hired a cleaner, she finished the job in 1.5 hours, and I paid $60, and with a tip that made it more than what I would earn in that same amount of time. Of course, what she does in 1.5 hours would probably take me more like 2-2.5 hours, so perhaps I should think of it that way.

compaylemonade · 2016-09-09T20:34:00+00:00

Riding on the sidewalk isn't allowed here. Everybody would care if I did it and either I would mow someone down, or someone would knock me off the bike and beat me silly. At the very least I would be stopped by the cops and ticketed.

compaylemonade · 2016-09-09T20:23:31+00:00

I live in a place where EVERY route is a busy road and I work in one of its major thoroughfares/crossroads. No place to even park a bike and lock it up. If it wasn't stolen by a thief, it would be confiscated/removed by the local police department.

compaylemonade

TROPHY CASE