Benni asked: I understand that commissions, if not included in W-2 income, will be taxed normal income tax plus FICA self-employment taxes. Let’s say I make $45,000 in regular W-2 salary and an additional $30,000 in commissions (for which the employer doesn’t pay any FICA) – how much would I owe in taxes??Anthony
Alida2u asked: I have recently become a subcontracted medical transcriptionist and need information on paying my taxes. I have gotten the self-employment packet from the IRS but there are so many ifs and ands that I am confused. Just wondering if anyone can simplify it for me? Such as a percentage and [...]
Richard M asked: I am a self-employed consultant as of this year, so I am responsible for both income and self-employment taxes. If I cover all income taxes due with estimated taxes during the year, but do not include funds to cover SE taxes until I file in 2009, will it appear on my filing [...]
