Daniel Brooks

Daniel Brooks writes Self Finance Hub’s guides on taxes and money for freelancers and 1099 workers. He researches every figure against IRS, SSA and HealthCare.gov sources and updates guides when the rules change. Daniel is not a CPA or Enrolled Agent, and nothing on this site is tax advice. Learn more on our About page: https://selffinancehub.com/about-us/

How to File Taxes as a Freelancer: Step-by-Step Guide for First-Timers

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Winding road with five numbered steps for filing freelancer taxes, from gathering 1099s to filing Form 1040

Your first tax return as a freelancer feels very different from the ones you filed as an employee. There’s no W-2 with everything already calculated, no employer withholding tax from each paycheck, and suddenly there are forms with names like Schedule C and Schedule SE. The good news: once you understand the order of the … Read more

Self-Employment Tax Explained: How Much Freelancers Really Pay

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Donut chart showing the 15.3% self-employment tax split into 12.4% Social Security and 2.9% Medicare

If you just got your first 1099 and your tax software showed a number far bigger than you expected, you’re not alone. The surprise almost always has the same cause: self-employment tax. Self-employment tax is the Social Security and Medicare tax that freelancers, contractors and gig workers pay on their own. When you work for … Read more

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