Tag Archives: Self-Employed

Double Contributions

Today TaxMama hears from Bill, in New Hampshire, who tells us, “I am employed with a work sponsored 401(k) plan to which I contribute the maximum PLUS the catch-up limit. I am also self-employed with a SEP to which the maximum is contributed. Can the SEP also accept a catch-up contribution? I am over age […]

1099? Who me?

Today TaxMama hears from Don from our TaxBootCamp blog, who is puzzled. “Recently I was asked by a client for my SSN so they could give me a 1099. I explained that I’m self employed and pay my own quarterly taxes, and since I just provide a service and am not employed by my client […]

1099 Income

Today TaxMama hears from Samar in Texas who asks. “I have worked under 1099. Do I need to pay social security taxes on my wages?”

Total Write-Off

Today Irina from the Internet is concerned. “My husband is self-employed and he hasn’t had any deductions taken out of his checks since the time he started his business. He claims that after he writes off his business expenses, he’ll get more than he owes. On top of that, he is telling me to claim […]