The current self employment tax rate is 15.3% of your net earnings. If your income is high you’ll also have to pay an additional 0.9% Medicare tax.

A tax deduction is basically a reduction in your taxable income. if you earned $60,000 and qualify for $10,000 in deductions, you are only taxed on $50,000.

Florida CPA. Individual Tax $275, Business Tax $650, and bookkeeping services $210, Payroll $135/Month, Due Diligence $1,499

Small business taxes are the federal, state, and sometimes local taxes you must file. Learn about filing as a sole proprietor, partnership, C corporation, or self-employed.

Education credits reduce your tax obligation dollar-for-dollar, they cut the amount of tax you must pay. AOTC is for undergraduate students, and the LLC is for graduates.

Tax Credits reduce the amount of tax owed, providing a dollar-for-dollar reduction. The total amount of income that is due to taxes is decreased by a tax deduction

Pre-tax deductions are funds employers remove from an employee's gross pay before withholding taxes. These deductions will lower an employee's taxable income.

Making the tax cuts implemented in the 2017 TCJA permanent top goal of the Trump Tax Plan 2026. Major change is the removal of federal taxes on Social Security income.

Sole proprietorship is the simplest business structure, where you and your business are legally the same entity. Learn how sole proprietors are taxed, what forms to file.

File back taxes the IRS usually requires filing up to six years of missing tax returns. Learn how refunds, back taxes, and good-faith filing affect IRS relief options.