Paying taxes for home daycare

[daycarebear1993]

Hi! I have recently started up a home daycare, and was looking for some advise on how much I should be setting aside come tax time? Is there any sort of guideline on an approximate amount I may be taxed? I know there’s no way of knowing exactly, I’m just looking for a bit of a guideline!

For reference I am estimating an income of about $7000. I started up this Sept so it will only be a few months of care to be claimed.

Thank you so much in advance for your advise!!

[BlueRose]

Because everyone makes different amounts and have different amounts of deductions there is really no guide.

I up 15% of each payment in a separate bank account, I always have more than enough to pay my taxes. I would rather have too much saved then not enough.