#self-employment
Self-Employment
Learn about self-employment taxes, LLC owner compensation, and freelancer financial management
Schedule SE: The Self-Employment Tax Form Every Freelancer Needs to Master
Schedule SE calculates the 15.3% self-employment tax (Social Security + Medicare) owed by anyone with $400 or more in net self-employment earnings. This guide walks through the 2026 wage base ($184,500), the 92.35% adjustment, the 50% above-the-line deduction, and the safe-harbor rules that prevent quarterly underpayment penalties.
Work-Related Education Tax Deduction: A 2026 Guide for Self-Employed Professionals
Self-employed professionals can deduct work-related education that maintains or improves current job skills, but classes that qualify you for a new trade fail the IRS test under Topic 513. Here is how to apply the rule, document each expense, and report it correctly on Schedule C in 2026.
Self-Employed Health Insurance Deduction: A Complete Guide
Self-employed filers can deduct 100% of qualifying health insurance premiums above-the-line via Form 7206 and Schedule 1 line 17, provided the business is profitable and neither spouse had access to subsidized employer coverage. The guide covers S corporation W-2 requirements, ACA marketplace subsidy circular calculations, age-based long-term care caps, and the five most common errors that trigger IRS disallowance.
Tax Deductions for Real Estate Agents: The 2026 Complete Guide
A 2026 guide to Schedule C deductions for 1099 real estate agents, covering the 72.5-cent mileage rate, home office rules, marketing, dues, the 20% QBI deduction, and the write-offs most agents miss.
Form 8829: The Complete Guide to Home Office Deductions for Self-Employed Individuals
Self-employed workers can deduct home office expenses on Form 8829, but millions miss it each year. Learn the exclusive-use test, how to calculate your business-use percentage, when to claim depreciation, and which method—simplified or regular—yields a larger deduction.
Form 8995 and the QBI Deduction: A Complete Guide for Small Business Owners
The QBI deduction lets pass-through business owners deduct up to 20% of qualified business income—Form 8995 is how you claim it. Covers who qualifies, income thresholds, SSTB rules, calculation examples, and 2026 permanent-status changes.
How Far Back Can the IRS Audit You? The Complete Guide to Audit Statutes of Limitations
The IRS has 3 years to audit most returns, 6 years if you omit 25%+ of gross income, and unlimited time for fraud or unfiled returns — here's what each window means for your record-keeping strategy and audit risk.
How Long Can You Go Without Filing Taxes? The Real Consequences Explained
The IRS has no grace period for unfiled returns—failure-to-file penalties run 5% per month up to 25%, the statute of limitations never starts on an unfiled return, and refunds expire after three years. Here's what the enforcement timeline looks like and how to get back into compliance.
How Much Do You Owe the IRS? 5 Ways to Find Out (and What to Do Next)
Check your IRS balance using 5 methods—online account, phone, notices, transcript, or in-person—then choose the right path: pay in full, set up a payment plan, or apply for penalty abatement. Covers 2026 penalty rates and collection timelines.
How Much Does It Cost to File Taxes? A Complete 2026 Guide
Tax filing costs in 2026 range from $0 with IRS Free File (AGI ≤ $89,000) to $2,500+ for CPAs handling complex returns—covers all four filing options, what drives costs higher, and five ways to reduce your bill.
How to File a Federal Tax Extension: A Complete Guide
A step-by-step guide to filing a federal tax extension with Form 4868 or 7004 — including how to estimate what you owe, avoid failure-to-pay penalties, and meet the safe harbor threshold to prevent underpayment charges.
Income Tax Liability: What It Is, How to Calculate It, and How to Reduce It
A practical guide to calculating income tax liability for sole proprietors, LLCs, S-corps, and C-corps—covering 2026 tax law changes including the 23% QBI deduction and 100% bonus depreciation, plus 7 strategies to legally reduce what you owe.