Taxes can be a big expense for anyone, and for busy professionals like DoorDash employees, they can be a huge burden. In order to save money on taxes, it’s important to have a plan and set aside enough money each year.
According to the IRS, the average individual needs to save at least 18% of their income each year in order to have a solid tax plan. That means for a DoorDash employee earning $35,000, they would need to save $4,700 each year in order to cover their taxes.
If you’re not sure how much you need to save each year, a good place to start is to calculate your tax bracket. This will tell you what percentage of your income you’ll be paying in taxes.
Once you know your tax bracket, you can use the IRS’s Tax Calculator to determine how much you need to save each year. You can also use this calculator to see how much you’ll owe in taxes if you make different changes to your income.
In conclusion, it’s important to have a plan for taxes and to set aside enough money each year in order to cover your bills. DoorDash employees should aim to save 18% of their income each year, which would amount to $4,700 for an employee earning $35,000.
