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 ...

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 ...

I was reminded this week during a discussion with a SCORE client who is wanting to start up a small business this spring, that while I have been writing about accounting, I haven't mentioned one ...

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 ...

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, ...

If you’re self-employed, you already wear many hats—owner, operator, and maybe even accountant. But one critical role you may not think about as often is that of your own payroll department. Unlike ...

Taking on a gig job means taking on new tax responsibilities. You might not think you’re in business, but if you’re reselling ...

Q. I am self-employed and I overpaid my 2020 self-employment tax. I cannot find where on my Form 1040 to report tax that I have already paid in order to receive a refund. Can you advise? — Working A.

We are well into tax season. But if you’re a busy self-employed sole proprietor, partner, or LLC member, you might not have gotten around to filing your 2020 Form 1040. If so, you are forgiven. The ...