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I have a high interest saving account where all my tax money sits.
my accountant estimates my tax owing on the revenue earned each month in his monthly report, and the tax money is put in that account (might as well gain some interest on the money you set aside for the government). i've always had to pay out taxes quarterly (except for the first 2 years i was in the biz)... though i'm in Canada - not sure how quarterly payments work in the US.
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