Posts Tagged ‘Self Employed’
Nurse Practitioners as Independent Practice Owners
There is a large and growing need for nurses across the board in America’s healthcare system today. The rise in the number of senior citizens and geriatrics within the population are directly linked with the need for quality nursing care. With that comes a number of challenges and strains that are placed upon the medical…
Read MoreThe Self-Employed: The Vision and Preparation for Retirement
The self-employed community plays a pivotal role in the economies of nations. The changing patterns of employment have changed how people work and how they save, invest, and prepare for their retirement. Growth of the Self-Employed Economy The self-employed economy, including freelancers, contractors, small business owners, and sole proprietors, is growing fast, especially in the…
Read MoreAmericans Abroad on Self-Employment Taxes on Foreign Income
How does self-employment tax work for those Americans, who live abroad, travel the world and work for themselves? Well, you still have to pay US taxes on foreign income if you are a freelancer, independent contractor, digital nomad or entrepreneur abroad. Yes, US tax laws apply no matter where in the world you live and…
Read MoreSelf-Employment: A Beginner’s Tax Guide
Self-employed individuals have a unique set of tax circumstances, ones very different from those of employees. If you are starting your own business or are otherwise self-employed, there are a number of tax provisions you should be aware of. Here’s a beginner’s tax guide for self-employment. Federal Self-Employment Taxes If you were an employee previously,…
Read More7 Tax Deductions to Start Tracking Now
If you are self-employed, you probably know that you have to set aside fifteen to twenty percent of your income to pay self-employment taxes. What many people don’t know is that you can save a serious chunk of change by capitalizing on self-employed tax deductions. When I first started out, I only knew about two…
Read MoreSelf-Employed? 5 Easy Ways to Lower Your Tax Bill
If you’re like most small business owners, you’re always looking for ways to lower your taxable income. Here are five ways to do just that. 1. Deducting the Cost of a Home Computer If you purchased a computer and use it for work-related purposes, you can take advantage of the Section 179 expense election, which…
Read MoreThe Top 10 Self-Employed Tax Questions and Answers
A lot of us fancy having our own business. The idea of being your own boss is quite a strong motivating factor. But there is no denying the fact that you have to take care of most of the factors in self-employment. Here are the top 10 tax related question for self-employed individuals along with…
Read MoreHow to File Taxes as a Self-Employed Sole Proprietor
The most common form of small business ownership, a sole proprietor (sole proprietorship if you’re being formal) is an “unincorporated business” where the owner literally owns the entire business. As such, for tax reasons, the business and its owner are considered the same tax entity. Being self-employed literally means working for yourself, which is often the…
Read MoreReal Estate and the Net Investment Income Tax and Self-Employment Tax
If you are planning or are actually doing a real estate business, either as an investor or as an active participant, you will have to deal with these: Net Investment Income Tax: If you have net investment income and your modified adjusted gross income exceeds $250,000 for married persons filing jointly, then there is a…
Read MoreWhen You’re Self-Employed, “Self” is Responsible for All Tax Preparation
When you work for someone else, you only have to think about employment taxes about once a year when tax season rolls around. However, those who are self-employed have the responsibility of keeping up with their income on their own and reporting estimated taxes. The IRS defines “self-employed” as someone who makes $400 or more…
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