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Tax for Freelancers...

Discussion in 'General Business' started by fireflyproject, Jan 2, 2007.

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  1. #1
    Does anyone know about tax for freelance designers? I don't know jack about taxes and I am getting started with some good freelance work soon so I'm going to need as much information as possible for it.

    Thanks everyone!
     
    fireflyproject, Jan 2, 2007 IP
  2. jhmattern

    jhmattern Illustrious Member

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    #2
    What you'll mostly want to look into is the self-employment tax. It's essentially the medicare and social security taxes that employees pay; only with employees, they pay a portion and the employer pays a portion. As a freelancer, you pay it all.
     
    jhmattern, Jan 2, 2007 IP
  3. fireflyproject

    fireflyproject Active Member

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    #3
    Ouch. That doesn't sound fun. I'll read over that link. Thanks!
     
    fireflyproject, Jan 2, 2007 IP
  4. soccerfriend

    soccerfriend Well-Known Member

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    #4
    if you make more then $400 you have to pay self employment tax
     
    soccerfriend, Jan 2, 2007 IP