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2. How Much Is Self-Employment Tax? - AOL

   www.aol.com/much-self-employment-tax-120001832.html

   The self-employment tax is comprised of two taxes: the Social Security tax and the Medicare tax (also known as the FICA tax). As of the tax year 2023, the FICA tax rate is 15.3% — that’s 12.4% ...

3. 15 Self-Employment Tax Deductions You Should Know - AOL

   www.aol.com/15-self-employment-tax-deductions...

   There are several ways to deduct vehicle expenses on your business tax return as a self-employed person. ... you can deduct up to $1,220,000 in 2024, but it is reduced for equipment purchased for ...

4. What are the tax brackets for tax years 2024 and 2025? What ...

   www.aol.com/tax-brackets-tax-years-2024...

   For tax year 2024, the limit for employee health savings account contributions is set to increase to $3,200, the IRS announced in November last year. ... For tax year 2024, those with self-only ...

5. Social Security Wage Base - Wikipedia

   en.wikipedia.org/wiki/Social_Security_Wage_Base

   The Social Security tax is one component of the Federal Insurance Contributions Act tax (FICA) and Self-employment tax, the other component being the Medicare tax. It is also the maximum amount of covered wages that are taken into account when average earnings are calculated in order to determine a worker's Social Security benefit. In 2020, the ...

6. FICA Tax Rate for 2023-2024: Everything You Need To Know - AOL

   www.aol.com/finance/fica-tax-rate-2023-2024...

   Whereas W-2 employees have FICA taxes withheld from their pay, the self-employed are responsible for reporting their own earnings and paying self-employment tax — the equivalent of FICA tax ...

7. How Do I File Self-Employment Taxes? - AOL

   www.aol.com/file-self-employment-taxes-133135209...

   If you're self-employed, you must file quarterly taxes every few months. These are your estimated tax payments, making up for the fact that you don't have an employer to withhold your taxes over ...

8. How To File Self-Employment Taxes: A Step-By-Step Guide - AOL

   www.aol.com/file-self-employment-taxes-step...

   When you're self-employed, paying taxes is a little more involved than merely doing your income tax filing once a year as you do when you're an employee. You'll need to file the appropriate...

9. Self-Employment Tax Deductions - AOL

   www.aol.com/news/self-employment-tax-deductions...

   Being self-employed isn't always all it's cracked up to be, especially when it comes to taxes. Not only do you have to use a tax estimator to make estimated tax payments, you also don't have an...