How much do you put away for taxes at the end of the year?

[sunnydays]

Just wondering, since you ladies said you put away 20%...do you end up actually paying that much in taxes at the end of the year?

[Inspired by Reggio]

Just wondering, since you ladies said you put away 20%...do you end up actually paying that much in taxes at the end of the year?

Oh good lord no ~ I have basically been full since I started with maybe 4 weeks a year where I have had only 4 kids between transitions ... and honestly most I have paid so far was $800 and that was my FIRST year and it was due to having cashed in an RSP the year I started because I had been employed a portion of that year, on sick leave a portion of that year and than started the daycare the last portion ... every year since than has been less because my full years worth of expenses gets my income down to less than half my revenue ... and you can earn up to $11,995 or something like that and pay no tax on that portion so it is only the % above you are paying tax on ~ and than it would depend on which bracket you which % but seriously you have to earn more than $42,000 AFTER expenses to be paying more than 15% tax.

http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html

I put away not only for taxes but also for my savings for when enrollment might be low and retirement!