Tag: self-employed taxes

Being self-employed comes with the freedom to be your own boss, but it also means you've got to handle taxes yourself. Knowing how much to set aside can save you from unexpected surprises. This guide breaks down exactly what you need to know, from understanding tax brackets to keeping track of deductible expenses. Whether you’re a freelancer, contractor, or small business owner, planning ahead could be a game-changer for your finances.

1099 workers, often gig workers or independent contractors, navigate unique tax situations compared to traditional employees. Understanding taxation on self-employed income involves grasping concepts like self-employment tax, estimated quarterly payments, and deductible expenses. Additionally, self-employed individuals might find tips on maximizing deductions and avoiding tax pitfalls helpful. This guide aims to simplify these tax components and provide clarity and useful advice for better management of 1099 income.