If you own a small business, are an independent contractor or work a side gig, you may have to pay self-employment taxes.

Annual gross income Think of this as your salary, or the sum of your wages and tips, plus any income from interest, dividends, alimony, retirement distributions, unemployment compensation and Social ...

If you work for yourself, you don’t just pay income tax — you also pay self-employment tax. That’s the part that covers ...

If you made money last year from a side hustle or gig work, tax time can feel stressful and confusing. We're here to help. Self-employment taxes are the Social Security and Medicare taxes individuals ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. The Good Brigade / Getty Images ...

What is self-employment tax? The federal self-employment tax is composed of Social Security and Medicare taxes, which are also known together as the Federal Insurance Contributions Act (FICA). For ...

Fewer self-employed workers who accept payments through a third-party service, such as PayPal or Square, will receive a form reporting their 2025 income. That means it will be up to them to calculate ...