What would you like to do?

How much taxes do i have to pay if im self employed?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

In 2009, you will pay the regular state and federal tax rates on all of your income, including your self-employment income.

In addition, you will pay a Social Security tax of 12.4% on the first $106,800 of your net self-employment earnings (reduced by other earnings subject to SS) and a Medicare tax of 2.9% of your net self-employment earnings with no limit.

You should also investigate whether you need to make quarterly estimated tax payments to avoid possible penalties for underpayment.
Thanks for the feedback!

How much can a self employed married man earn before paying tax wife not working wife not working?

A self-employed person must file an income tax return and pay self-employment taxes on net income from self employment of $400 or more.. As for federal income tax, assuming t

Do self-employed people pay FICA?

Yes self employed taxpayers pay taxes on the NET profit of the business operation. The self employment taxes (OASDI) Old Age Survivor and Disability Insurance (FICA) (social s

Why do you pay 30 percent in self-employment tax but when you were employed by a company you only paid 16 percent?

    Tax Answer     Self-employmened people have to pay basically double of what a "regular" employee would pay. Here's why: When you work for someone else,

How much does a self-employed plumber make?

According to the U.S. Bureau of Labor Statistics the estimated mean annual wage for Plumbers, Pipefitters, and Steamfitters as of May 2008 is, $49,200. This would amount to $2

Self-employed tax returns?

Same as any other...the source of the income is different. Some different things may be applicable to fill out...   Those that are self-employed will have to pay self-emplo

Must the self employed file tax form 1040?

In general yes if your business is a proprietorship. You will also have to file the 1040-se self employment tax and the 1040-c profit or loss from a proprietorship as part of

Your husband is self-employed and didn't pay his taxes the IRS is taking your home which is in your name can they do this?

Answer   Generally, yes.   If you filed a joint return, then yours was inaccurate too.   If you benefitted, that is if you enjoyed any of the money that should have

How do you determine how much money to withhold when self employed?

\nSelf-employment income.\n. \nA person with income from Self-Employment files Refer to Tax Publication 334, Tax Guide for Small Business, for information. When there is no

Which tax schedule for self employed?

You will need to report that income, and any related expenses, on Form 1040, Schedule C, Profit or Loss from Business, or you may qualify to use Form 1040, Schedule C-EZ, TO d