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

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

    Part of your self-employment tax: Reduces your adjusted gross income and is typically 50% to 57% of your self-employment tax. Self-employed health insurance deduction: Might allow you to deduct ...

  3. Federal Insurance Contributions Act - Wikipedia

    en.wikipedia.org/wiki/Federal_Insurance...

    This tax is imposed not by the Federal Insurance Contributions Act but instead by the Self-Employment Contributions Act of 1954 (SECA), which is codified as Chapter 2 of Subtitle A of the Internal Revenue Code, 26 U.S.C. § 1401 through 26 U.S.C. § 1403 (the "SE Tax Act"). Under the SE Tax Act, self-employed people are responsible for the ...

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

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

    All your contributions will be tax-deductible. Folks in business for themselves may also choose a solo 401(k), a retirement plan for self-employed people without employees (except possibly a ...

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

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

    How Much Is Self-Employment Tax? 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 ...

  6. Income tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Income_tax_in_the_United...

    The United States federal government and most state governments impose an income tax. They are determined by applying a tax rate, which may increase as income increases, to taxable income, which is the total income less allowable deductions. Income is broadly defined. Individuals and corporations are directly taxable, and estates and trusts may ...

  7. IRS tax forms - Wikipedia

    en.wikipedia.org/wiki/IRS_tax_forms

    Main article: Form 1040. As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ - see below for explanations of each) used for ...

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