Tag Archives: Self Employment Tax

The Historic Origins of the IRS Self-Employment Tax

Sole proprietors and independent contractors love to grumble about the IRS self-employment tax, which requires them to pay twice as much as their traditionally employed counterparts. At one time, however, the self-employment tax burden was minimal. The fascinating origins of the self-employment tax make it quite clear that today’s taxpayers suffer a significantly greater financial […]

How to Calculate Self-Employment Tax

Self-employment taxes are notoriously complicated. Deductions, quarterly payments, and other considerations confuse and frustrate millions of independent contractors and sole proprietors. Not sure where to start? Use this simple guide as a blueprint. Track all earnings and expenses. Income eligible for self-employment taxes includes anything earned as an independent contractor, through babysitting, blogging, or other money-making […]