As people are finding new and different ways to make money, the idea of being self-employed, or possibly just a side hustle, becomes more widespread. Although there are many tax advantages and other ...

Brex reports LLC owners can reduce taxable income through 16 deductible expenses. Proper tracking prevents missed deductions ...

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 ...

If you drive for a ride-hailing app, work a side gig or otherwise own a small business, you may have to pay self-employment taxes. These are based on your net earnings, which is your income minus ...

Section 1402(a)(13) of the Tax Code was enacted clear back in 1977 that states that limited partners only owe self-employment tax on their guaranteed payments. However, the Code did not clarify what ...

If you’re a member of a limited liability company (LLC), do you have to pay self-employment taxes? That’s a darn good question. Our beloved Internal Revenue Code’s self-employment (SE) tax provisions ...

The Internal Revenue Service (IRS) has released updated Schedule SE tax form and instructions for the tax years 2023 and 2024. TRAVERSE CITY, MI, US, January 12, 2024 ...

When a self-employed individual makes a profit from running a business, the income is typically subject to self-employment (SE) tax. This is the equivalent of the social security taxes paid by an ...

Around 10% of American workers are self-employed, running small businesses and offering services as independent contractors. With the gig economy booming, millions of people are also taking side ...

I recently became self-employed. (Yes, by choice, not by necessity, though maybe many would question my judgment.) Like me, have you also just made this hold-onto-your-shorts leap? If so, you probably ...