Here are 15 big self-employment tax deductions and tax benefits that could slash tax bills for freelancers, contractors and other people who work for themselves.

As we step into 2025, understanding the fiscal responsibilities of self-employed individuals is crucial. Social Security ...

The self-employment tax is 15.3%, which is 12.4% for Social Security and 2.9% for Medicare. Generally, it applies to self-employment earnings of $400 or more.

Setting up a corporation may reduce your tax by saving you on self-employment tax. But you will need to make quarterly filings, run payroll and issue a W-2, even if it's only for yourself.Talk to ...

Self-employed people can contribute up to $69,000 for 2024, and that contribution is fully tax-deductible. Self-employment ...

Self-employed people can contribute up to $69,000 for 2024, and that contribution is fully tax-deductible. Self-employment tax is calculated before SEP contributions. Thus, these contributions do ...

Although there are many tax advantages and other advantages to having your own business, the issue of self-employment tax is often overlooked and misunderstood.

This is because employers pay half the taxes for you — but self-employed individuals pay all of it. Luckily, you can deduct half of self-employment taxes paid on your tax return. 2.

Here are 15 popular tax deductions you can claim if you’re self-employed, including credit card interest and health insurance premiums.

Self-employment tax software could be a helpful solution for many different types of people who aren’t traditional W-2 employees. According to a recent study by the National Bureau of Economic ...

For the Wabash Valley’s self-employed workers, failing to keep up with estimated tax payments and deductions can lead to more ...

To help offset the self-employment taxes, there are quite a few deductions you can take to lower your business income. See if you qualify for them. 15 Self-Employment Tax Deductions You Should Know ...