I've worked in several countries and have never heard of a magic bank account like that. How does a bank account know what is payment for work and what is not?
I've never heard of anything like that. The most you can do here is set up your account to automatically put a certain percentage into a separate account you'd later use to pay taxes.
I have a separate bank account where that I use to save money for taxes. Its a high interest Capitol One 360 online account, and I take a % out of every payment I get and save it there. I make sure to over-estimate that % so I always have more saved than I really need. Keeping it in a separate account makes it a lot easier…
taxes are different from Country to Country...in the US state to state... Where I am at the moment..I have to pay School, City, State, and Federal I am sure you could set up a checking account that has a certain percentage of deposits go to a savings account...and then set up a quarterly bill pay...but paying taxes like…
All of this is good advice, except not necessarily the bit about establishing a company. I would suggest anyone just starting out work as a sole proprietor, no use going through the hassle of setting up an LLC if its something that doesn't work out long term. But again, seek legal advice from an actual professional, idealy…
Him "checking" how much work you do is irrelevant. The point of estimating how long the task will take, and deciding an hourly rate which you think you are worth is so you can give him a quote on for how much you will charge for the task. Estimated hours * hourly rate = cost per task. Your hourly rate will be decided by…