If you are a sole proprietor, a partner in a partnership, an independent contractor, freelancer, or otherwise make money on your own, you are considered self-employed by the IRS and you have a self-employed tax liability if you had net earnings greater than $400 from self-employment. Net earnings are the gross income you generated through self-employment minus ordinary and necessary business expenses. If you make less than $105,577, your net earnings subject to self-employment tax is 92.35% of your net earnings from self-employment.





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Share your small business tips with the community!
Share your small business tips with the community!
Share your small business tips with the community!
Share your small business tips with the community!