Introduction Unlike employees, independent contractors do not have taxes withheld from their payments. Instead, under IRC § 1402, they must pay self-employment tax and income tax directly to the...
Introduction The IRS requires tax withholding on various types of income to ensure taxes are paid throughout the year. Under IRC § 3402, employers must withhold federal income tax,...
Introduction If you are self-employed, an independent contractor, or earn non-W-2 income, you may be required to make estimated tax payments throughout the year. Under IRC § 6654, the...
Introduction As a self-employed taxpayer, you are responsible for paying self-employment tax and reporting all business income. However, the IRS allows business deductions to help reduce Adjusted Gross Income...
Introduction Self-employed individuals face unique tax obligations, including self-employment tax, estimated quarterly payments, and business deductions. The new tax laws for 2025 bring several changes that impact freelancers, gig...
Introduction The IRS has introduced stricter reporting requirements for side hustle income in 2025, affecting freelancers, gig workers, and independent contractors. With the expansion of third-party payment reporting and...
Introduction With the rise of freelancing, gig work, and side hustles, many people earn extra income through Uber, DoorDash, Etsy, consulting, or online platforms. However, gig workers often face...
Introduction Freelancers and self-employed individuals often miss valuable tax deductions that could significantly reduce their taxable income. Unlike W-2 employees, freelancers must pay self-employment taxes and cover their own...
Introduction Freelancers and self-employed individuals must pay taxes throughout the year instead of having them withheld from a paycheck. The IRS requires freelancers to make quarterly estimated tax payments...
The Essential Guide to Keeping Your Tax Obligations in Check As a US resident living abroad, managing your tax obligations can feel overwhelming. Missing a crucial tax deadline could...