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 ...

Kim Porter began her career as a writer and an editor focusing on personal finance in 2010. Since then, her work has been published everywhere from Forbes Advisor to U.S. News & World Report, Fortune, ...

The Internal Revenue Service (IRS) has released updated Schedule SE tax form and instructions for the tax years 2023 and 2024. TRAVERSE CITY, MI, US, January 12, 2024 ...

Several major self-employed tax changes in 2026 are now in effect, and they could ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. The Good Brigade / Getty Images ...

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 your taxable income, and save a bundle in taxes ...

Mike Cetera is the editor in chief for Forbes Marketplace U.S. Mike has written and edited articles about mortgages, savings accounts, CD rates and credit cards for more than a decade. Prior to ...

If you drive for a ride-hailing app, work a side gig or otherwise own a small business, you may have to pay self-employment taxes. These are based on your net earnings, which is your income minus ...