A brief guide for saving for Doordash Taxes (swipe up for the full article)
Your taxes are based on what's left over after expenses, not on total pay from Doordash and others
Quick Estimate tip: Profit equals earnings minus 65.5 cents per mile
2 Important numbers to consider: Self-Employment tax is 15.3%
2 Important numbers to consider: Self-Employment tax is 15.3%
Income tax starts at 10% and goes up depending on income levels
A goiod starting point is to save 25% of your profits
Put that money in a savings account not attached to your checking account.
Making quarterly estimated payments to the IRS removes the temptation to spend it elsewhere.