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2. 15 Self-Employment Tax Deductions You Should Know - AOL

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

   Here are a few of the most common self-employment tax deductions: 1. Self-Employment Tax Deduction. If you’re self-employed, you will end up paying more Social Security and Medicare tax than an ...

3. Top Tax Deductions and Tax Credits You Should Know for 2023 - AOL

   www.aol.com/finance/10-tax-deductions-know-2023...

   A tax credit, on the other hand, reduces the tax you owe — every $1 of tax credit reduces your tax bill by by $1. If you owe $10,000 in taxes and qualify for a $2,500 tax credit, your tax bill ...

4. 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...

5. Taxes 2023: Which Credits and Deductions Apply to You? - AOL

   www.aol.com/finance/taxes-2023-credits...

   Tax credits and deductions were already confusing many of us before all of this year's substantial changes. Good Question: What Is the Standard Deduction for People Over 65 in 2023? FICO Fix: 3...

6. Misclassification of employees as independent contractors

   en.wikipedia.org/wiki/Misclassification_of...

   These taxes are generally not paid by the employer on the compensation of a worker classified as an independent contractor. Instead, the contractor is responsible for their employer's share of the taxes when paying self-employment taxes at the end of the year. [2] Classification affects whether a worker can receive unemployment benefits.

7. Payroll tax - Wikipedia

   en.wikipedia.org/wiki/Payroll_tax

   Federal social insurance taxes are imposed on employers [35] and employees, [36] ordinarily consisting of a tax of 12.4% of wages up to an annual wage maximum ($118,500 in wages, for a maximum contribution of $14,694 in 2016) for Social Security and a tax of 2.9% (half imposed on employer and half withheld from the employee's pay) of all wages ...