Tax Withholding is the act of setting money aside to pay for taxes.
Track offers tax withholding as one of its core benefits - so you don't spend what you owe to Uncle Sam. 🇺🇸
When you withhold your taxes with Track, your taxes are held in a FDIC Insured bank account at Evolve Bank.
When estimated quarterly tax payments are due, Track submits your withholdings and paperwork to both the IRS and state tax authorities.
If you ever need to, you can always request to withdrawal any of your unsubmitted tax withholdings at any time. 👍
Track handles your self-employment taxes by calculating the taxes on every paycheck, witholding the right amount and submitting your estimated quarterly tax payments.
1) Track detects when you earn new income and emails you how much you should be setting aside for taxes. 📨
2) With a click of a button, you can withhold the taxes you owe (we even offer an autowithhold feature). 🏦
3) When estimated quarterly tax payments are due, Track submits your withholdings and the paperwork to both the IRS and state tax authorities. ⚖️
4) On April 15th, get exclusive annual filing options and be confident that you don't have a tax bill. 🎉
🤩 Track also lets you organize your business expenses to reduce your tax bill and get a refund each quarter instead of waiting of tax day. 💵