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 ...

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 ...

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, ...

If you made money last year from a side hustle or gig work, tax time can feel stressful and confusing. We're here to help. Self-employment taxes are the Social Security and Medicare taxes individuals ...

Is Passive Income Subject to Self-Employment Tax? Passive income is generally not subject to self-employment tax, which primarily covers Social Security and Medicare taxes for individuals who work for ...

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 ...

If you are a "solopreneur" or freelancer, or you earn contract income for driving, delivering papers or any number of jobs, you must pay taxes on your self-employment income. Not reporting cash income ...

People who work for themselves or who own their own company are sometimes alternately referred to as self-employed or independent contractors, though there is a difference between the two. In general, ...

As state policymakers take on the 'gig economy' with laws that severely restrict the use of freelance labor, such as California's controversial AB5, I thought it was a good excuse to write about why ...