When you are self-employed, it typically means you work for yourself, as an independent contractor, or own your own business. Here are six key points the IRS would like you to know about self-employment and self-employment taxes:
For more information, visit the Small Business and Self-Employed Tax Center on the IRS website. There are three IRS publications that will also help you. See Publications 334, Tax Guide for Small Business; 535, Business Expenses and 505, Tax Withholding and Estimated Tax. All tax forms and publications are available on IRS.gov or by calling 800-TAX-FORM (800-829-3676).
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Additional IRS Resources:
IRS YouTube Videos:
December 10 (Employees who work for tips)
If you received $20 or more in tips during November, report them to your employer - Details
December 15 (Corporations)
Deposit the fourth installment of estimated income tax for 2014 - Details
December 25 (Everyone)
Federal Holiday (Christmas Day) - Details