Is self-employment income taxed at gross or net?

Answer You are self-employed if you operate a trade--such as carpentry or plumbing--a business or a profession by yourself or as a partner. Being self-employed does not exempt you from paying taxes, which... Read More »

Top Q&A For: Is self-employment income taxed at gross or net

Is Machinery Depreciation Taken From Gross Income to Determine Self-Employment Taxes?

If you are self-employed or provide independent contractor services, taxes are not withheld from your compensation, which means you must withhold income and self-employment tax on the income you ea... Read More »

Is Rental Income Considered Self Employment for SSI?

More than seven million people turned to Supplemental Security Income (SSI) in 2011 for financial relief, according to the Social Security Administration, and many more may be eligible but haven't ... Read More »

What income is subject to self-employment tax?

If you have more than $400 of earned income from working as an independent contractor or self-employment, you must pay self-employment taxes. In addition, if your income from working as a church em... Read More »

Is royalty income subject to self-employment tax?

If you list your royalty income on Schedule C of your federal tax return, you must pay self-employment tax on that amount. if you list the income on Schedule E, you do not have to pay the tax. Cons... Read More »