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 ...

Navigating the process of filing taxes when you’re self-employed can be intimidating, especially for a first-timer. If you’re not sure how self-employment taxes work or are wondering what ...

When you’re self-employed, paying taxes is a little more involved than merely doing your income tax filing once a year as you do when you’re an employee. You’ll need to file the appropriate ...

Filing taxes for your LLC as an S Corp allows an owner-operator to designate him- or herself as an employee of the LLC yet to still report the income of the business on their personal tax return. S ...

The calculation of self-employment taxes is based on the net income earned from self-employment activities. This includes any revenue generated from business activities conducted as a sole proprietor, ...

The prospect of earning money on your own terms can be exciting, but many freelancers underestimate their tax liabilities. Laurice Wardini, a freelance writer and the co-founder of ClothedUp, says, “I ...