Self Employment Tax

Tax Consequences for Independent Contractors: How Much You Pay as a Self Employed Individual?

Many people today are accepting jobs with companies who have elected to pay them as independent contractors rather than as…

2 months ago

Reporting Rental Income for Tax Purposes for a Jointly Owned Rental Property

If you and one or more other persons jointly own a property that you rent out, and you have not…

3 months ago

Federal Income Tax when You Are Unemployed

When you lose your job and find yourself unemployed, income taxes may not be the most important thing on your…

3 months ago

Recapturing Section 179 Deduction for Tax Purposes If You Close a Business

One of the tax benefits available to businesses is the section 179 deduction that allows you to write off the…

3 months ago

Choosing the Type of Partnership Formation – GPs, LPs & LLPs

This article will discuss the formation of a partnership. Included are descriptions of the different partnership types, including the partnership…

4 months ago

Federal Income Tax and Self-Employment Tax on Income from an Internship

When you work an internship, you may do it for the experience, without pay. Or you might be paid as…

4 months ago

Can the Members of an LLC Pay Themselves Salaries or Do They Have to Take Distributions?

How the members of a limited liability company (LLC) are compensated for their services and how they are taxed depends…

8 months ago

Is There a Minimum Age for Filing a Federal Income Tax Return?

There is no minimum age for filing a federal income tax return. If you are under age 18 you may…

2 years ago

Tax Deduction Guide for the Easily Confused

The most reliable source for information on legitimate tax deductions is the agency responsible for collecting taxes from the populace:…

2 years ago

Basic Taxation for the Independent Contractor

An independent contractor is considered a self employed individual, and income earned by an independent contractor is considered self-employment income.…

2 years ago

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