Self-employed tax is a social security and Medicare tax on persons who work for themselves. Here are some considerations for calculating and paying these taxes:
- Filing a Schedule SE (Form 1040).
- Knowing what the current SE tax rates are.
- Knowing the current maximum earnings subject to SE taxes.
- Calculating your self-employment tax.
- Calculating your self-employment tax deduction for your Form 1040.
- Making estimated tax payments four times a year.
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This is my second year coming here. The service is excellent and the people are very good. TaxCutters has the best service in Chicago.
Last year my former accountant told me I would owe the government money and his $1,110 filing rate. Well, thank God I saw TaxCutters’ sign that day and decided to stop in. Within 5 minutes Asif advised me that I would be receiving a sizeable return [because he found some hidden deductions] and that his fee would be lower! Needless to say, I went from being stressed out and broke to treating my family to a nice dinner that night.
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