Are you a contractor then?
You need to determine your tax rate, probably between 15 - 30% of your check.
Put this amount in a savings account - don't withdraw any of it.
Get yourself set up on quarterly payments through the IRS. You'll pay your taxes 4 times a year.
There's more info about quarterly payments here: http://www.irs.gov/faqs/faq-kw146.html
Also, you could ask a tax accountant to set up quarterly payments for you, it''s really easy.





