When you’re self-employed, you’re responsible for paying both the employer and employee portions of taxes. Here’s how to calculate both. If you’re self-employed – either on a full-time basis or just ...

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, ...

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 ...

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 ...

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 ...

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, ...

The prospect of earning money on your own terms can be exciting, but many freelancers underestimate their tax liabilities. Laurice Wardini, a freelance writer and the co-founder of ClothedUp, says, “I ...

Self-employed workers need to pay Social Security taxes. But those workers also have access to several deductions. Many, or all, of the products featured on this page are from our advertising partners ...