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Article · Playbook

Taxes when you work for yourself

Income tax, self-employment tax, and paying during the year.

In plain words

You pay income tax on your profit, and self-employment tax for Social Security and Medicare.

Profit is worked out on Schedule C; self-employment tax on Schedule SE.

No one withholds tax for you, so most self-employed people make estimated tax payments each quarter.

Updated 25 days ago from PlaybookReviewed by the Atlas teamGeneral information, not advice for your situation

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