Perhaps you love the flexibility of managing multiple sources of gig income. Here’s how to manage the taxes. Millions of people have diversified the way they earn income by joining the gig economy.

Are you a sole proprietor running your own small business? If so, you have to wear many hats, and one of the least enjoyable but most important ones is the tax accountant hat. It takes planning and ...

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, ...

Andy Smith is a Certified Financial Planner (CFP®), licensed realtor and educator with over 35 years of diverse financial management experience. He is an expert on personal finance, corporate finance ...

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 ...

As people are finding new and different ways to make money, the idea of being self-employed, or possibly just a side hustle, becomes more widespread. Although there are many tax advantages and other ...

Learn which tax deductions and other benefits apply to your family Kiara Taylor has worked as a financial analyst for more than a decade. Her career has involved a number of financial firms, including ...

If you’re a member of a limited liability company (LLC), do you have to pay self-employment taxes? That’s a darn good question. Our beloved Internal Revenue Code’s self-employment (SE) tax provisions ...

If anything, remember you’ll make tax payments more frequently than you file tax returns. Many, or all, of the products featured on this page are from our advertising partners who compensate us when ...

Taking on a gig job means taking on new tax responsibilities. You might not think you’re in business, but if you’re reselling items online, tutoring or pet sitting, for example, the money you make is ...

The Great Resignation may be creating a tax headache for a lot of people. Last year more than 47 million people quit their jobs. In the same year, a record 5.4 million new business applications were ...

Operating an LLC—or a corporation—taxed as an S-corp can provide significant tax savings to small businesses at every level.