Answer guides

Direct answers to the money questions small business owners ask most, with every fact linked to the official source. For bookkeeping setups by business type, see the bookkeeping guides.

• How much should a freelancer set aside for taxes?
  What the IRS says you owe on self-employment income (15.3% SE tax on 92.35% of net earnings, plus income tax), when it's due, and how to turn that into a set-aside habit.
• What does a mileage log need for the IRS?
  The details IRS Publication 463 lists for each trip, how often to log, what counts as commuting, and the 2026 standard mileage rates.