-
I am Self-Employed, do I have to pay taxes?
Self-employment tax refers to the taxes that are remitted by individuals who work as freelancers or independent contractors. This tax amount encompasses the Social Security and Medicare taxes. For the tax year 2023, the self-employment tax rate stands at 15.3%. Being a freelancer or independent contractor offers numerous advantages, such as the ability to oversee…
-
How To File and Pay Taxes as a Sole Proprietor
Sole proprietorship taxes often pose a perplexing challenge for numerous entrepreneurs. Even individuals possessing substantial experience in managing small businesses may encounter difficulties when it comes to identifying the appropriate tax forms to complete, determining deductible expenses, calculating intricate figures, and discerning the appropriate timing and method of payment. The subsequent responses to frequently asked…
