Posted on 06/08/2004 11:46:45 AM PDT by hsmomx3
Great idea!
That's basically the same thing that I do, but I do it when I submit the invoice. That way, when I analyze my monthly income and expenses, I get a real idea if I made a profit. No clients have ever not paid me, although sometimes they take their merry old time. Each month, I also add to the dummy account my property taxes that are effective for that month.
If everyone were self employed, or at least if they didn't have taxes withheld, they'd be very conservative very fast. Writing that check to the IRS every quarter is quite painful!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.