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Why is Found auto-saving more taxes than expected?

Why is Found auto-saving more taxes than expected?

For sole proprietors, Found’s tax auto-saving feature will set aside enough funds to pay for your estimated quarterly taxes. Please remember that the amount set aside is calculated according to the reported income in your Found account as well as by factoring in your reported deductions.

If the amount set aside is higher than you anticipated this may suggest that you have reported higher income in your tax profile. To lower the amount that is set aside in tax savings you may edit the income reported to adjust to the correct amount.

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*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 Business 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.