Self-employment tax is a mix of Social Security and Medicare taxes. Use our calculator to estimate what you owe. Many, or all, of the products featured on this page are from our advertising partners ...

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, ...

Your adjusted gross income is more complicated because self-employed individuals receive certain income tax deductions not available to standard employees. Your adjusted gross income equals your total ...

If you’re self-employed, you'll need to file taxes throughout the year, typically via quarterly payments. The self-employment tax is 15.3%, a combination of Social Security and Medicare taxes. There ...

Around 10% of American workers are self-employed, running small businesses and offering services as independent contractors. With the gig economy booming, millions of people are also taking side ...

The calculation of self-employment taxes is based on the net income earned from self-employment activities. This includes any revenue generated from business activities conducted as a sole proprietor, ...

Self-employed people and business owners are responsible for paying self-employment tax, also known as SECA taxes. These federal taxes are assessed as a percentage (15.3%) of your income. The Social ...

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 ...

When you are self-employed, tracking your income is a bit more complicated than receiving a W-2 from another company. Calculating gross income, as well as net profit or loss, can be particularly ...

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 ...