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 ...

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 ...

— 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. — ...

Being your own boss creates big opportunities for tax savings — but only if financial advisors and their clients understand all of the complex rules surrounding self-employment, experts said.

About 92% of the 24.3 million Americans who use the marketplace receive a subsidy of some amount, according to KFF. If ...

As the tax laws continue to change and evolve the need to evaluate the best method to be compensated arises. Although most people are compensated as W-2 wage employees of an organization and may not ...

Tax-paying small business owners and self-employed individuals in the United States are one of the most important facets of the nation's economy. The Internal Revenue Service has outlined specific ...

The Ascent brings financial expertise, trusted advice, and unbiased analysis to the world of daily personal finance decisions. Our mission is to help you live more richly. Brittney started her writing ...

March 16, 2026: Tax returns are due for partnerships and S corporations that follow the calendar year. If your business follows a fiscal year, tax returns should be filed by the 15th day of the third ...

Many self-employed individuals, possibly millions nationwide, could be overlooking their opportunity to claim "Credits for Sick and Family Leave"—an immediate tax refund that puts as much as $32,220 ...

The Ascent brings financial expertise, trusted advice, and unbiased analysis to the world of daily personal finance decisions. Our mission is to help you live more richly. Brittney started her writing ...