How to Estimate Self-Employment Taxes?

Answer Self-employed taxpayers must pay twice as much Social Security tax as employees who receive W-2 forms. Those in the latter category must pay 6.2% of their wages in Social Security taxes and 1.45% t... Read More »

Top Q&A For: How to Estimate Self-Employment Taxes

Who qualifies for self employment taxes?

Any person who owns their own business or works for others as an independent contractor will be required to pay self-employment taxes. Generally business owners and contractors are not waged (W-2) ... Read More »

1099s & Self-Employment Taxes?

Self employment is a wonderful option for those with the initiative and desire to make it on their own. This freedom they experience, however, comes at a price. That price is the seemingly unending... Read More »

When are quarterly self-employment taxes due?

If you are self-employed or an independent contractor, you must make estimated tax payments at least four times per year. These payments are due on April 15, June 15, September 15 and January 15 of... Read More »

Penalties & Interest for Not Filing Your Self Employment Taxes?

The American tax system is pay-as-you-go. If you are self-employed and expect to owe more than $1,000 in taxes in addition to any taxes withheld during the year, you must file estimated tax payment... Read More »