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Sales Tax Question

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OKAY here's another question.. as you can see I'm new to this whole thing and taxes have been one of the biggest fears I've had in my adult life hahaha. But I know we have sales tax... but what about federal taxes? How much should I be setting aside from all my orders to cover me on that end so I don't get screwed?
It would depend on your Federal tax bracket. As a business, you are also entitled to subtract expenses related to your business, such as supplies, office supplies, etc. You will need to file a Schedule C at tax time.
I think it differs depending on your tax bracket, but I have to set aside 15.3% for FICA and 15% for Federal plus 6% for state (you would need to find out what your state rate is, I'm in GA). These %'s are calculated from your profit, not your gross sales.
Amy is correct, it would depend on the tax bracket (sales, less expenses).

Here is a link for small businesses/self employed from IRS.

www.irs.gov/businesses/small/selfemployed/index.html
It also makes a difference if you have another wage/salary-paying job or if most of your income is from being self-employed. I have enough withheld from my full-time job pay to cover federal and state income taxes, even with my crafting income added in.

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