Around 10% of American workers are self-employed, running small businesses and offering services as independent contractors. With the gig economy booming, millions of people are also taking side ...

With the gig economy booming, more and more people are taking side hustles and weekend jobs to earn extra money — some are even opting to make the leap into full-time self-employment. But when you ...

2. Self-employment tax deduction Yes, you can deduct self-employment tax as a business expense. It's actually one of the most common self-employment tax deductions. The self-employment tax rate is ...

If you drive for a ride-hailing app, work a side gig or otherwise own a small business, you may have to pay self-employment taxes. These are based on your net earnings, which is your income minus ...

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 ...

The calculation of self-employment taxes is based on the net income earned from self-employment activities. This includes any revenue generated from business activities conducted as a sole proprietor, ...

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 ...

As if setting up a budget isn't a difficult enough exercise all on its own, being self-employed adds another level of mental gymnastics to the mix. If you're a salaried employee at a corporation, your ...

Are you among the many Americans who switched to contractor work or started a side hustle last year? Now it's tax time, and you are unsure if you are doing things the right way. Although every ...

Kemberley Washington is a former staff writer at Forbes Advisor and provides consumer-friendly tax tips for individuals and businesses. Her work goes beyond tax articles. She has been instrumental in ...

If you earned any income in 2015 that didn't have payroll and Medicare taxes deducted, you may have to pay an additional tax known as self-employment tax, which unfortunately can take another 15.3% ...