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 ...

Anyone who starts their own business eventually needs to learn how to file taxes as a self-employed worker. The alternative, not filing taxes and seeing your back taxes bill balloon over the years, ...

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, ...

Here's what you need to know about Form 1040: the mother of all tax forms. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain ...

Form 1040 is the essential U.S. tax form for reporting individual income to the IRS. Discover its types, uses, and filing ...

The 1040 tax form is the one most people use for filing taxes. It’s not the easiest to understand, though. Form 1040 received an overhaul and revamp in 2018 designed to make it shorter and less ...

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 ...

— 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. — ...

Navigating the process of filing taxes when you’re self-employed can be intimidating, especially for a first-timer. If you’re not sure how self-employment taxes work or are wondering what ...