27 Aug '16, 3am

Nothing beats being your own boss. However, are you aware of these self-employment tax facts?

Maybe you’ve discovered that you have a passion for something, and you want to start a business to monetize that passion. So you lay out a plan to get your business started, and you jump into your new endeavor with excitement. You’re ready to make your mark on the world — but have you thought about self-employment taxes? I know, taxes might be the last thing on your mind in the whirlwind of starting a business , but a bit of forethought goes a long way when it comes to self-employment taxes. Here are seven things you might not know about the self-employment taxes that come with owning your own business. 1. You have to pay self-employment taxes even if you didn’t do that well in your business. Maybe your first year isn’t that great. Maybe you didn’t get started until later in the year. Nevertheless, if the income from your business is over $400, you will have to pay self-em...

Full article: https://www.godaddy.com/garage/smallbusiness/manage/7-thi...

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