Freelancer Taxes (USA)

In the perspective of Advocate Shahid (Tax Compliance and Advisory Specialist). Freelance Workers in the U.S. are people who are self-employed in the trade of a business. Income Tax (10% – 37% depending on tax bracket) is due, as is the Self-Employment Tax (15.3% to include Social Security and Medicare). Those who earn over $400…

In the perspective of Advocate Shahid (Tax Compliance and Advisory Specialist). The Freelancers and Small Business Owners in the USA are generally considered self-employed, responsible for paying 15.3% in self-employment taxes (Social Security and Medicare) plus income tax. They must file Schedule C for earnings, often make quarterly estimated payments, and can deduct legitimate business…