Small Business Money Saving Tips

Many small business owners know that taxes aren't automatically taken out of your pay check. If you do not set money aside to pay your taxes, you are going to be stuck with a huge tax bill and possibly the penalties that come along at the end of the year. Estimate to determine how much you need to save each month then transfer that amount to savings and do not touch it. An online banks will give you the ability to save it so you can not go to a local bank and withdraw the funds. This can greatly help keep you on track and ensures the money is there when it is time to make your quarterly estimated tax payments. In order to have funds, you should have multiple sources of income. Don’t quit your day job just yet. Having a guaranteed income that is large enough to cover your expenses is key.