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Self-employment and taxes

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Self-employment and taxes

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By Chuck Myers
Thursday, Jan. 17, 2013, 12:01 a.m.
 

Self-employment can bring a strong sense of empowerment. But like every business, self-employed individuals must pay taxes.

The tax rules governing self-employed businesses aren't exactly the same for people who work for a company. A number of websites, however, offer a wide range of information on self-employed tax requirements and planning. Here are just a few:

-Financial Web: Features self-employed taxes overview. http://www.finweb.com/taxes/tax-tips-self-employment-taxes.html

-FindLaw: Contains host of information, including who pays self-employment taxes, tax rates and deduction details. http://smallbusiness.findlaw.com/business-taxes/self-employment-tax.html

-Internal Revenue Service: Explains self-employed tax obligations, filing and payments. http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center

-National Association for the Self-Employed: Resource center with tax news, forms and assistance for the self-employed. http://www.nase.org/LearningCenter/taxresourcecenter.aspx

-Social Security Administration: Lays out income tax rules for Social Security and Medicare taxes, deductions and reporting earnings. http://www.ssa.gov/pubs/10022.html

Source: McClatchy-Tribune Information Services

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