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 ...

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. There ...

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 ...

There are several forms of business ownership, including different types of corporations. Two common methods are a sole proprietorship and a subchapter-S corporation. A sole proprietorship is the same ...

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, ...

Everyone pays both FICA taxes and income taxes. If you’re an employee, your company manages the FICA tax payments for you. The process is more complicated for the self-employed business owner. For ...

Dear Littler: I work in HR at a large, California-based company with branches across the country. We pride ourselves on our diverse and inclusive workforce, and encourage employees to self-identify ...

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 ...