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Federal Income Tax Calculator

WebThe Self-Employment tax rate is around 15.3%, comprising 12.4% for Social Security and 2.9% for Medicare. On top of that, there is an additional 0.9% Medicare tax on income …

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URL: https://www.gettaxhub.com/federal-income-tax-calculator/

5 Mistakes Freelancers Make On Their Taxes

WebIf you do that, filing your taxes becomes a lot easier. 4. Not Making Health Care Contributions. This is something you may not have thought of, but as a self …

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Do Independent Contractors Qualify for QBI

WebIt starts the phase-out at $157,500 for single people and $315,000 for individuals. The deduction will be zero if your income is over $207,500 as a single person …

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Business Tax Expense Calculator

WebUsing the Business Tax Calculator is simple. Enter your revenues, total and entertainment expenses, and estimated tax payments, then click on the calculate button. Just …

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Free 5 Minute Live CPA Consultation

WebFree 5 Minute CPA Consultation. Schedule a call and get 5 minutes of access to a live Certified Public Accountant. Need more than 5 minutes with a CPA? Schedule a 15 min …

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Independent Contractor Tax Help

WebIndependent contractor tax write-offs include 100% of your health insurance and any work-related expenses. If your career requires a lot of travel, for example, you can track your …

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Can I Deduct Nanny Expenses on My Tax Return

WebAs of 2019, which accounts for the recent changes under the “Tax Cuts and Jobs Act,” you can deduct between 20% and 35% of up to $3,000 that you spent on your …

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S-Corp Business Filing And Calculator

WebNet taxable income for an S corp is calculated by adjusting its gross income. This includes the total revenue plus $150,000 of business expenses, salary of $50,000, and payroll …

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Can I Deduct Rental Losses

WebThe actual guidelines demand property owners reduce their deduction by 50% of the amount by which their Adjusted Gross Income (AGI) exceeds $100,000. So, if …

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Can Independent Contractors Take the Qualified Business Income …

WebThe normal 20% QBI deduction in your case would be $60,000 ($300,000 times 20%) 50% of your wages paid would be $40,000 ($80,000 times 50%) 25% of your …

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5 Important Tips For Reducing Freelancer Taxes

WebLike every other Employee or Small business owner, Freelancers must also pay taxes. When you pay taxes as a Freelancer, you have to be the accountant, the …

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