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 ...

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 ...

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 ...

Kim Porter began her career as a writer and an editor focusing on personal finance in 2010. Since then, her work has been published everywhere from Forbes Advisor to U.S. News & World Report, Fortune, ...

Korrena Bailie has over a decade of experience reporting and editing personal finance stories and reviews. Her work has been featured in Wirecutter, The New York Times, Bankrate and Credit Karma.

We'll cover what this important tax document is, and then list ten key items stressing the importance of correctly filling ...

As the tax laws continue to change and evolve the need to evaluate the best method to be compensated arises. Although most people are compensated as W-2 wage employees of an organization and may not ...

(BPT) – If, like so many others, you lost your job in 2020 and decided to turn your hobby into a money-making venture, congratulations! That’s what we call resilience. But did you know, you don’t need ...

A new federal form from the Internal Revenue Service aims to help the self-employed claim sick and family leave tax credits under the Families First Coronavirus Response Act. Eligible self-employed ...

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 ...