Being your own boss can be rewarding, but one of the drawbacks is that you have to pay self-employment taxes. The self-employment tax is a 15.3% tax you’ll pay for Social Security and Medicare taxes ...

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 ...

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 ...

Expenses like a home office, car, insurance, and even your education bills could get you a big tax break Katharine Paljug is a financial writer and editor with over a decade of industry experience.

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 ...

If you made money last year from a side hustle or gig work, tax time can feel stressful and confusing. We're here to help. Self-employment taxes are the Social Security and Medicare taxes individuals ...

One of the best things about being self-employed is that you are entitled to a whole host of boss-less independence, flexible scheduling and most importantly, tax deductions. While some overlap with ...