That 15.3% is likely to be a stunner.
By Barry J. Friedman, CPA
IndustryNewsletters
Your clients are self-employed if they’re in business for themselves – including a part-time business. That means they’re also their own tax manager!
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Your clients can be self-employed as a sole proprietor/an independent contractor, or a member of a partnership or of a limited liability company. As such, they need to file an annual income tax return and pay estimated taxes throughout the year on their income.