What is self-employment tax? The federal self-employment tax is composed of Social Security and Medicare taxes, which are also known together as the Federal Insurance Contributions Act (FICA). For ...

Are you self-employed and wondering how to maximize your tax deductions for the 2022 tax year? Here’s a look at 15 of the best tax write-offs you don’t want to miss: — Qualified business income. — ...

If you’re self-employed, you need to know about all of the tax deductions you can get, plus how retirement savings can help you lower your taxes, too. CPA and TurboTax expert Lisa Greene-Lewis ...

It may feel like you just filed your 2022 taxes, but now is the time for you to lower your 2023 tax bill. The end of the year will be here before you know it, and this is the deadline for several ...

As the tax laws continue to change and evolve the need to evaluate the best method to be compensated arises. Although most people are compensated as W-2 wage employees of an organization and may not ...

— If you’re self-employed, you’ll need to file taxes throughout the year, typically via quarterly payments. — The self-employment tax is 15.3%, a combination of Social Security and Medicare taxes. — ...

Tax-paying small business owners and self-employed individuals in the United States are one of the most important facets of the nation's economy. The Internal Revenue Service has outlined specific ...

Explains how the IRS defines self-employment, including sole proprietors, contractors, partners, and gig workers, and clarifies who must comply with SE tax ...

The Ascent brings financial expertise, trusted advice, and unbiased analysis to the world of daily personal finance decisions. Our mission is to help you live more richly. Brittney started her writing ...

Many self-employed individuals, possibly millions nationwide, could be overlooking their opportunity to claim "Credits for Sick and Family Leave"—an immediate tax refund that puts as much as $32,220 ...

For self-employed individuals, managing healthcare costs can be challenging without the benefits of employer-sponsored insurance. One way to alleviate some of the financial burden is by opening a ...