Below you'll find a list of all posts that have been tagged as “Self-Employed”
The legal entity chosen by a business will define the legal and tax compliance requirements of the business. That being said, “S-Corporations” are very popular in the small business community. An “S-Corporation” is a corporation that has made a tax election to be treated for tax purposes as a flow-thru entity similar to that of a partnership. However, there is …
This article will compare the federal tax effects of entity selection. This article will be relevant to all taxpayers throughout the country but at times may point out New York State specific issues. I will further explain the pros and cons of both an S-Corporation and an LLC from a tax professional point of view. What is an S-Corp? There …
Congrats on being self-employed and making money (and paying taxes). When you are self-employed taxes are no longer being withheld from your paycheck. You are now solely responsible for your “withholding” situation! You have two options (1) do absolutely nothing (2) pay in quarterly estimated tax payments. (1) If you do nothing you will have to pay all your taxes …
