I have a friend, an entrepreneur, who learned the hard lesson of running out of money he should pay in taxes. He was due to pay some $20k to a local tax office but invested the money instead. The trade went against him. Long story short, he had to work more to make what he'd lost. Now he has a stable job.
I have a friend, an entrepreneur, who learned the hard lesson of running out of money he should pay in taxes. He was due to pay some $20k to a local tax office but invested the money instead. The trade went against him. Long story short, he had to work more to make what he'd lost. Now he has a stable job.
That brings up another complicated issue for folks who run a business or work on a commission: you need to be putting money aside for tax time.
Hmm. Has me thinking if there’s been much research into that topic, think I know what I might write about next.