Freelance tax set-aside guidance warns against generic 25-30% rule

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A DEV Community article advises freelancers against relying on generic tax withholding percentages. It explains that self-employment tax is a fixed calculation, while income tax depends on brackets and deductions specific to each individual. The piece provides a detailed method for calculating personal tax obligations based on net profit, expenses, and filing status. It emphasizes that a one-size-fits-all percentage can be financially misleading due to these variables. The article concludes by stressing the importance of quarterly estimated tax payments to avoid underpayment penalties.

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