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 ...

Self-employment taxes can add up for independent contractors, but tax deductions are a welcome perk. Many, or all, of the products featured on this page are from our advertising partners who ...

Taking on a gig job means taking on new tax responsibilities. You might not think you’re in business, but if you’re reselling ...

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, ...

Forbes contributors publish independent expert analyses and insights. I'm a trial attorney, law professor, and CPA. Schedule C Filers are Eligible for PPP Loans. The SBA’s guidance confirms that ...

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 ...

Self-employment has its perks, but being your own boss can lead to headaches come tax season. In addition to the income tax, you’ll need to pay self-employment taxes that support the Social Security ...

Danni Santana spent nine years as an editor and business journalist covering industries including sports, retail, restaurants, and personal finance. He is a graduate of the Craig Newmark Graduate ...

A new federal form from the Internal Revenue Service aims to help the self-employed claim sick and family leave tax credits under the Families First Coronavirus Response Act. Eligible self-employed ...

The Great Resignation may be creating a tax headache for a lot of people. Last year more than 47 million people quit their jobs. In the same year, a record 5.4 million new business applications were ...

Applying for a mortgage can be difficult, especially for people with nontraditional income sources, like self-employed workers, small business owners, gig workers, freelancers and anyone else who ...