Your Easy Guide to Self-Employment Taxes
Chances are if you are reading this, then you are self-employed or interested in becoming a small business owner. Congrats! However, if this is you, it’s important to consider self-employment taxes. Self-employed means you fit any of the following: Self-Employment Tax What is it? Self-employment tax is made up of Social Security (12.4%) and Medicare tax…
7 Easy Ways to Reduce Self-employment Taxes
Who here doesn’t like seeing their tax liability? I think most of you just mumbled “me” to yourself. Am I right? Here are 7 ways to reduce self-employment taxes for small business owners. By now I’m pretty sure you understand you have self-employment tax obligations as a small business owner or RV entrepreneur. Understanding self-employment…
How to know if you don’t owe self-employment taxes on one-time income
Many of you have most likely heard of self-employment taxes. What about income that you collect occasionally or one-time? Let’s dive into when you DON’T owe self-employment taxes. If you’re not familiar with self-employment taxes, then I highly suggest you learn about them as a freelancer or business owner. The IRS even has a tool…
Understanding self-employment taxes as a freelancer
Chances are if you are reading this, then you are already self-employed or interested in becoming a small business owner. Congrats! However, it’s important to consider self-employment taxes if this is you. Self-employed means you fit any of the following: You carry on a trade or business as a sole proprietor (single-member LLC included) or receive income…