This article was expert reviewed by Lisa Niser, EA, an enrolled agent and tax advisor. Self-employed workers are subject to federal taxes as well as a 15.3% self-employment tax on net earnings ...

Although there are many tax advantages and other advantages to having your own business, the issue of self-employment tax is often overlooked and misunderstood. If someone starts their own ...

If you have a side hustle — or are full-time in business for yourself — you might qualify for self-employment tax deductions.

This makes it easier to report and claim deductions come tax time. The self-employment tax In addition to income tax, there is a separate tax self-employed people must pay on net earnings called ...

and "the self-employment tax rate is 15.3% on net earnings," as opposed to the 7.65% employees would pay. The good news, however, is that the IRS "treats the employer portion of the self ...

And if you’re expecting refunds from the IRS or a state tax agency, you can enter your direct deposit details in order to receive those funds in the fastest way possible. Self-employment tax ...

A freelance writer filing as a self-employed worker for the first time tests TurboTax and IRS Free File, and picks a winner.

Its Self Employed online package includes year-round tax planning help, a real-time refund status, multiple import options, and a Deduction Maximizer that pinpoints the deductions that are most ...

It’s important to note that the QBI deduction doesn’t reduce your 15.3% self-employment tax, which is a combination of Social Security and Medicare taxes. It simply excludes a portion of your ...

This technical tax case highlights the intricate factors that determine employment status under IR35 ... level of autonomy to be considered truly self-employed and present watertight contracts ...

HM Revenue and Customs (HMRC) has issued an urgent warning for all self-employed workers who could be subjected to income tax changes. The changes are related to the Making Tax Digital for Income ...

is a type of traditional IRA for small businesses and self-employed individuals. As with most traditional IRAs, your contributions are tax deductible, and your investments grow tax deferred until ...