Understanding Self-Employment Tax and How to File Taxes as a Freelancer

[jrstephens]

I know we have to pay SE tax and match just like our employer would if we were employed. My thing is that my tax program says I do not owe any SE tax and I show a profit on business income. I want to MAKE SURE this can happen before I file my taxes this weekend.

Has anyone else who has shown a profit on your return NOT had to pay taxes?

If you did have to pay taxes, how do you go about it? I trying adding the SE form and it just says I do not owe any.

HELP!! HELP!!!

I am using taxactonline.com

 

[JackieBozeman]

IRS PublicationYou need to go online to www.irs.gov and get Publication 334. It is a Tax Guide for Small Business. Section 10 discusses SE tax. It states you must pay the tax and file Schedule SE if your NET earnings from self-employment are $00 of more. You have to use Schedule SE to figure you net earnings.

 

[jrstephens]

Thanks Jackie! I will go get that Pub. I think I may already have it - just need to find it.

 

[jrstephens]

I found it!! Quicker than what I thought. I had net earnings of more than $400,so, I gotta go figure out how to add it.

 

[AnaCash]

Hi there!I completely understand your concern about not owing any SE tax despite showing a profit on your business income. It's always a good idea to double check before filing your taxes.I recommend reaching out to a tax professional or accountant for advice on your specific situation. They will be able to review your tax return and provide you with a clear explanation of why you may not owe any SE tax. They can also guide you on the proper steps to take if you do end up owing taxes.In the meantime, you can also try reaching out to the customer support team at taxactonline.com for assistance with your SE form. They may be able to provide you with more information on why it is showing that you do not owe any SE tax.I hope this helps and good luck with your taxes! Remember, it's always better to be safe than sorry when it comes to taxes. Take care!