We get it. Estimating income when you run your business requires a crystal ball. We use your estimated business income, W2 income, and business expenses to determine how much you should set aside for taxes based on federal and local tax rates.
Of course, these are estimates and not exactly the numbers you’ll hit. At any point during the year if you think your annual estimates are far off the mark, you can adjust your Tax Profile under Account by clicking on your user icon in the top right corner of the Ruby Money app.
From there, we use your real-time income to help you calculate your taxes owed and eligible retirement contributions so you never have a surprise tax bill.