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What Does It Mean to Be Self-Employed? A 2026 Guide - Coursera Learn more about what it means to be self-employed, as well as the pros and cons of this approach to work, to help you decide if it’s the right path for you Self-employed individuals may work as freelancers, gig workers, contractors, or business owners Explore key facts:
How to Calculate and Pay the Self-Employment Tax Navigate the mandatory FICA replacement for the self-employed Learn how to accurately calculate your SE Tax liability, report it on Schedule SE, and claim the necessary deduction
Taxes for the Self-Employed: A Complete Guide Self-employment taxes are the taxes freelancers, contractors, gig workers, and small business owners pay on their income Unlike traditional employees, who have Social Security and Medicare automatically withheld from their paychecks, self-employed individuals are responsible for paying both the employer and employee portions
What Is Self-Employed Work and Why Do People Pursue It? Self-employed work means you work for yourself, either by forming a business or working as a contractor or freelancer This type of employment can fall under several classifications, and these classifications determine tax rate and the ability to hire employees, among other factors
Self-employment tax: What it is and how to calculate it | Fidelity Being self-employed allows you tax deductions for qualified business income, retirement account contributions, and business-related expenses If you’re self-employed, you must pay quarterly tax estimates generally due on April 15, June 15, September 15, and January 15
Self-employment tax (Social Security and Medicare taxes) Self-employment tax is a tax consisting of Social Security and Medicare taxes primarily for individuals who work for themselves It is similar to the Social Security and Medicare taxes withheld from the pay of most wage earners