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Tax percentage to withhold

Discussion in 'BBS Hangout' started by Falcons Talon, Sep 24, 2008.

Falcons Talon Member

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How much tax withholding is a good idea to keep for a small personal business on the side?

Does 15% sound about right?

#1 Falcons Talon, Sep 24, 2008

Supermac34 President, Von Wafer Fan Club

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You should make sure you are not required to make quarterly estimated tax payments.

#2 Supermac34, Sep 24, 2008
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CPA ftw

#3 Yonkers, Sep 24, 2008
Falcons Talon Member

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It's off the ad revenue from my website.

#4 Falcons Talon, Sep 24, 2008
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I've always heard %25

#5 DFWRocket, Sep 24, 2008
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You will owe self employment tax (~15%) and regular tax (your individual tax rate) on the profit (revenue - expenses).

#6 Rockets Red Glare, Sep 24, 2008
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I don't know if I'm wording this right.

Does placing 3rd party ads on your website constitute small business, or is it just taxed as additional income, like having a 2nd job...

#7 Falcons Talon, Sep 24, 2008

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