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Self Employment Tax

The next estimated tax deadline is September 16: Do you have to make a payment?

Annualized Income Method, Deductions, Electronic Federal Tax Payment System, Federal Income Tax, Partnerships, Qualified Business Income Deducton (QBI), S Corporation, Self Employment Tax, Shareholder, Sole Proprietors, Tax Deadlines /

If you’re self-employed and don’t have withholding from paychecks, you probably have to make estimated tax payments. These payments must be sent to the IRS on a quarterly basis. The third 2019 estimated tax payment deadline for individuals is Monday, September 16. Even if you do have some withholding from paychecks or payments you receive, […]

The next estimated tax deadline is September 16: Do you have to make a payment? Read More »

When are LLC members subject to self-employment tax?

Internal Revenue Service, LLC, Partnerships, Self Employed, Self Employment Tax, Small Business, Tax, Tax Deduction, Tax Planning, Uncategorized /

Limited liability company (LLC) members commonly claim that their distributive shares of LLC income — after deducting compensation for services in the form of guaranteed payments — aren’t subject to self-employment (SE) tax. But the IRS has been cracking down on LLC members it claims have underreported SE income, with some success in court. SE

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