[beauzero]

You can't really "park" it because you are supposed to file taxes every quarter. I do between 50% and 33% depending upon the needs at home. NEVER less than 33%. It used to be 40% but with the Trump tax law changes now we go as shallow as 33%. We bill once a month.

[vkuruthers]

Thanks for the response. Do you have any recommendations for tax software, or do you have your accountant handle tax payments? I'm a sole proprietor now but am going to upgrade to an LLC soon.

[WhiteOwlLion]

Filing for sole proprietor is really easy. You just make estimated tax payments. It really depends on how much income you generate. If you file quarterly, you're doing well I think.

Accountant can do more than taxes, so they are more like a business ally. Tax agents can file taxes for you and represent you if there's any tax issues.

I've been able to get by with Quicken & TurboTax for sole proprietor.

For LLC, hard to say. QuickBooks desktop or online seem to be the most common. It really depends on how complicated your business needs are I think.