How does tax auto-saving work?
Found automatically sets aside funds from deposits marked as Income to ensure you have enough saved to pay your quarterly tax bill.
Every time you get paid business income, Found will calculate your new tax bill and set aside funds so you are covered for upcoming tax payments. The percentage set aside is based on your tax bracket, which is determined by your Tax Profile and the income you’ve reported in Found.
Auto-saving is enabled by default, but you can toggle this feature on or off by following these steps:
On mobile
Log into your Found account
Tap Taxes account on the Banking screen
Tap the selector next to Auto-save for taxes
On desktop
Log into your Found account
Navigate to the Taxes tab
Tap Edit next to Auto-saving
Adjust the toggle to enable or disable Tax auto-saving.
Auto-saving is currently only available for sole proprietors.
for the self-employed
*Found is a financial technology company, not a bank. Banking services are provided by Piermont Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category.
The Found Mastercard debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc.
The information on this website is not intended to provide, and should not be relied on, for tax advice.
Direct deposit funds may be available for use for up to two days before the scheduled payment date. Early availability is not guaranteed.