Navigating the Self-Employment Tax

In addition to income taxes, freelancers are subject to self-employment tax, which covers Social Security and Medicare contributions. Understanding how to calculate this tax and what deductions can reduce its impact is key for every freelancing woman. Remember, certain expenses, like the employer-equivalent portion of your self-employment tax, can be deducted to lower your taxable income.

In addition to income taxes, freelancers are subject to self-employment tax, which covers Social Security and Medicare contributions. Understanding how to calculate this tax and what deductions can reduce its impact is key for every freelancing woman. Remember, certain expenses, like the employer-equivalent portion of your self-employment tax, can be deducted to lower your taxable income.

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