The set-aside
Take-home, with the tax already counted out.
Money shows two figures for the month: what you were paid, and under it, take-home. Take-home is smaller because part of what you were paid is tax you’ll owe later. That part is the set-aside.
We do not hold it
This is arithmetic, not an account. Your money goes from your client to your bank and we never touch it, so nothing is put aside anywhere.
Want the money kept separate? Move it to a second account yourself.
Where the number came from
You start with a rate that’s typical for your kind of work. Your real rate depends on where you live, what else you earn and what you can deduct, and we don’t know any of that.
Picking a better one
If you’ve filed a return before, take what you paid as a share of what you earned, and use that. If you have an accountant, ask them. If you have neither yet, leave it a little high.
Change it on Money, where it’s shown. The figures update as you type, and you can change it as often as you like.
What to set aside for tax works out your rate from last year’s figures, and shows the sum for one payment and a month.
This explains what the figure means. It is not tax advice, and we don’t file anything for you.