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, ...

Learn how to effectively manage your self-employment tax with our comprehensive guide on strategies and tips for minimizing ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. Unlike W-2 employees, self-employed individuals do not ...

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 ...

Side hustle earnings are taxable and must be reported, even without a 1099 form. Self-employment tax covers Social Security and Medicare contributions. Organized recordkeeping helps maximize ...

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 ...

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 ...

When you are self-employed, tracking your income is a bit more complicated than receiving a W-2 from another company. Calculating gross income, as well as net profit or loss, can be particularly ...

You can be a self-employed business owner without establishing a formal company. According to the IRS, you qualify as self-employed if you do odd jobs for pay, sell the occasional short story, or have ...