Thinking of becoming self-employed? Before you take the leap, read my new article. Waving goodbye to your boss and going into business for yourself sounds wonderful. And it can be. But before you make the big move, you should be aware of the consequences of your decision. And there are many consequences. The good, the bad, and the ugly. Here’s the story in … [Read more...]
Self-employment Tax
Sorted by Date
When You’re Subject to Self-Employment Taxes
“When You’re Subjectto Self-Employment Taxes” To get my complete, new articlewith all the details... How much self-employment tax do you have to pay? It’s not always easy to figure out. That’s why you need to read my new article. Do you own your own business? Then you know that you have to pay self-employment taxes to fund your Social Security and Medicare … [Read more...]
Cut Employment Taxes With the S Corporation
Fed up with paying huge self-employment taxes? I’ll show you how to slash them when you read my new article. Enough is enough! As the owner of an unincorporated small business, you’re probably sick of paying the exorbitant self-employment tax. And who can blame you? You work hard only to seethe IRS smash and grab a big chunk of your income. That’s why I urge you … [Read more...]
Partnerships with Multiple Partners: Tax Pros and Cons
Are you going to run a business with multiple partners? Then know the tax consequences! Yes. There are several big benefits of forming a partnership. For example, your share of gains, deductions, losses, and credits can be passed through to your personal return. But...there are dangerous pitfalls too, which can hurt you badly. I’ll explain both sides of the coin, … [Read more...]
Three answers to ‘Paying for College’ questions
To get my complete, FREE articlewith all the details… In a recent article, I explained how, by paying your college student to do a job for your business, you could save a lot of money. For example, let’s say you paid your youngster $23,255 for a one-time job; one that wasn’t subject to self-employment taxes. Using this strategy, you could deduct the $23,255 and … [Read more...]