If you have a side hustle — or are full-time in business for yourself — you might qualify for self-employment tax deductions.

The calculation of self-employment taxes is based on the net income earned from self-employment activities. This includes any revenue generated from business activities conducted as a sole proprietor, ...

What is self-employment tax? The federal self-employment tax is composed of Social Security and Medicare taxes, which are also known together as the Federal Insurance Contributions Act (FICA). For ...

The Ascent brings financial expertise, trusted advice, and unbiased analysis to the world of daily personal finance decisions. Our mission is to help you live more richly. Brittney started her writing ...

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The self-employed look set to be left worse off after the Budget if chancellor Rachel Reeves goes ahead with plans to increase income tax and reduce employees’ National Insurance by the same amount – ...

If you have a side hustle — or are full-time in business for yourself — you might qualify for self-employment tax deductions. These deductions can lower how much of your income is considered during ...

The Ascent brings financial expertise, trusted advice, and unbiased analysis to the world of daily personal finance decisions. Our mission is to help you live more richly. Brittney started her writing ...