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Category Archives: Self Employment Tax
Tax Deductions for Independent Contractors
Independent contractors have more tax deductions compared to employees. For a business expense to be considered as a deductible, there are three conditions under the law. First, it must be directly connected to your business or trade. Second, it must … Continue reading
When are Self Employment Taxes Due
Self-employment tax or the SE tax is a Medicare and social security tax that is primarily for those individuals who are working for themselves. It is just similar with the Medicare and social security taxes withheld from wage earners’ payment. … Continue reading
Self Employment 401k Information
One you engaged in your own business, you will be entitled to a Self Employed 401(k) plan and this is available for business owners, it’s considered as a retirement plan benefit or a retirement savings plan. Once you qualify you … Continue reading
5 Things to Know About Self Employment Tax
You just decide to start your own business and as a self employed individual you still need to file taxes. The thing is, it would be a different filing procedure now, what are the things you need to know about … Continue reading
Posted in Self Employment Help, Self Employment Tax
Tagged employment taxes, Self- employment tax, Tax
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Who Pays Self Employment Tax
Self employment tax is the way an independent contractor pays Medicare payroll and Social Security taxes. In the part of employees, the employee and employer divide the cost of the said payroll taxes, wherein each of them will pay 7.65% … Continue reading
Tax Deductions for Independent Contractors
Independent contractors have more tax deductions compared to employees. For a business expense to be considered as a deductible, there are three conditions under the law. First, it must be directly connected to your business or trade. Second, it must … Continue reading
Reducing Self Employment Tax
There are many self-employed individuals who worry about their self-employment taxes. This is because most of them are just running small businesses if not freelance works or contract labor. There are ethical and legal ways in order to keep the … Continue reading
How to Calculate Self Employment Taxes
Designated workers, sole proprietors and self-employed persons all pay the Medicare and Social Security tax though their self-employment tax. If you are one of these individuals and you would want to know your self-employment tax, here are some of the … Continue reading