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2. 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.

3. Form W-4 - Wikipedia

   en.wikipedia.org/wiki/Form_W-4

   Form W-4 (officially, the "Employee's Withholding Allowance Certificate") [1] is an Internal Revenue Service (IRS) tax form completed by an employee in the United States to indicate his or her tax situation (exemptions, status, etc.) to the employer. The W-4 form tells the employer the correct amount of federal tax to withhold from an employee ...

4. Here's how the self-employed can save on taxes and help ... - AOL

   www.aol.com/finance/heres-self-employed-save...

   In 2021, the number of self-employed workers in this country jumped to 14.9 million in the second quarter, after falling to 12.7 million a year earlier, according to a Pew Research Center report.

5. Self-employment - Wikipedia

   en.wikipedia.org/wiki/Self-employment

   Self-employed persons sometimes declare more deductions than an ordinary employee. Travel, uniforms, computer equipment, cell phones, etc., can be deducted as legitimate business expenses. Self-employed persons report their business income or loss on Schedule C of IRS Form 1040 and calculate the self-employment tax on Schedule SE of IRS Form 1040.

6. Best retirement plans for the self-employed - AOL

   www.aol.com/finance/best-retirement-plans-self...

   A SEP IRA allows the self-employed to create a retirement plan for themselves as well as employees. This kind of plan offers a tax-deferred or tax-free way to save – on either a pre-tax or after ...

7. A complete guide to SEP IRAs: Why those who are self-employed ...

   www.aol.com/finance/complete-guide-sep-iras-why...

   About 16.5 million people in the U.S. are self-employed, according to 2023 data from the Bureau of Labor Statistics. For many of these workers, planning for retirement has its own quirks and ...

8. SEP-IRA - Wikipedia

   en.wikipedia.org/wiki/SEP-IRA

   SEP contribution limits are computed not from net profit but from net profit adjusted for the deduction for self-employment tax (2019 Form 1040 Schedule C, line 31; 2019 Form 1040, Schedule F, line 34; or 2019 Form 1065, Schedule K-1, box 14, code A). Barring limits, this is half the 15.3% FICA tax, levied on net earnings, which is 92.35% of ...

9. How to get a mortgage when you’re self-employed - AOL

   www.aol.com/finance/mortgage-self-employed...

   It's possible to get approved for a home loan as a self-employed borrower, but you often have to take a few extra steps to prove your creditworthiness. ... If earned income is verified by 1099 ...