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

You’re putting in the hours, following someone else’s rules, and still wondering if it’s getting you anywhere. Maybe you’ve ...

The government’s Making Tax Digital (MTD) scheme is set to take effect in April 2026, and for the UK’s self-employed workforce, it marks a significant shift in how tax is reported and managed.

Filing state and federal tax returns as a self-employed worker is a straightforward process. You do not need a formal company to report your earnings from self-employment. The Internal Revenue ...

The standard Medicare tax is 1.45%, or 2.9% if you’re self-employed. Taxpayers who earn above $200,000, or $250,000 for married couples, will pay an additional 0.9% toward Medicare.

Oz took the position that he was not liable for certain taxes – including a self-employment tax, known as SECA – on income from his media entity Oz Property Holdings, the memo said.

Without changes to both welfare and self-employment policies, they will remain in the shadows – enterprising but invisible, offering valuable local services but criminalised.

That's an important distinction -- if you just calculate income tax, you could end up with a surprise tax bill. Self-employment tax requires you to pay 15.3% of your total earnings.

Or tax scammers on social media make misleading claims that taxpayers — including gig economy workers — can get up to $32,000 through the so-called “Self-Employment Tax Credit.” ...

The self-employment tax rate is 15.3% of net earnings. That rate is the sum of a 12.4% Social Security tax and a 2.9% Medicare tax on net earnings.

Myth 5: I don't owe tax, so I don’t need to file a return There are a few reasons why you might think you no longer need to file a tax return. For example, maybe you don't owe any tax for 2023-24 ...