Self-Employment Tax Services
The rate of self-employment tax in the US is 15.3% of which 12.4% is tax and 2.9% is the medicare contribution. One needs to be honest in this, the self-employment tax return is filled annually and one should deposit the same on a quarterly basis. Our company will be assisting you in this matter and would guide you as well. This tax is paid on the profitability of the individual and the one needs to be paid regularly without any defaults.
The people who are sole owners, working as freelancers, contractors those who are managing the businesses or trade are required to pay the tax, and only those individuals who earn less than 400 dollars a year are exempted from this tax. You should never do tax evasion and should always take the guidance of your expert consultant and must deposit the tax with the federal law system.
There would be a penalty if you don’t pay the self-employment tax and this penalty can get a communicative shape if the default is for a regular period. One should always take the right guidance and we are the company helping the clients on daily basis.
