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 ...

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 ...

Being your own boss gives you access to tax incentives not available to other workers. These include self-employment tax deductions for a home office, vehicle expenses and internet service. While ...

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 ...

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 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 ...

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 ...

In general, self-employed individuals are subject to employment taxes on their net earnings. The wages paid to individuals who are non-owner-employees of a business are also subject to employment ...