For high-earning founders and partners, the S-corp decision is less about tax theory and more about execution and ...

The calculation of self-employment taxes is based on the net income earned from self-employment activities. This includes any revenue generated from business activities conducted as a sole proprietor, ...

Expenses like a home office, car, insurance, and even your education bills could get you a big tax break Katharine Paljug is a financial writer and editor with over a decade of industry experience.

If you have a side hustle — or are full-time in business for yourself — you might qualify for self-employment tax deductions. These deductions can lower your taxable income, and save a bundle in taxes ...

Filing taxes for your LLC as an S Corp allows an owner-operator to designate him- or herself as an employee of the LLC yet to still report the income of the business on their personal tax return. S ...

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 ...

Self-employed or freelance and owe taxes? Learn which IRS tax relief options may help, including payment plans, penalty relief and Offer in Compromise.