The Self Employment Tax
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Archived Under: Business Ownership , Moneysmartz Editor , Taxes , The Moneysherpa Pages
Tags: Business Ownership, Moneysmartz Editor, Taxes, The Moneysherpa Pages
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Starting a business is daunting. Adding to the stress is an array of administrative tasks, not the least of which is dealing with the IRS. If you are self-employed and wondering how to calculate and pay your taxes, there are many helpful online resources that should lower your blood pressure, get your taxes out of the way, and allow you to focus on important tasks, like making money.
For an easy to digest overview of self-employment taxes, visit Wachovia's Self-Employment Tax page with ways to report the self-employment tax to the IRS and available income tax deductions.
For forms and an in-depth review of the self-employment tax, visit the Internal Revenue Service.
To estimate your self-employment taxes, visit H&R Block's self-employment tax estimator. If you are paying self-employment taxes for the first time, then prepare for a shock. The good news is that a portion of your self-employment tax is an income tax deduction.
Finally, Moneysmartz offers a complete list of self-employment tax resources.
