Taxes for the self employed

Nobody hands self-employed people a manual. One day taxes are withheld from your paycheck automatically; the next, you're running a business where nothing is withheld and words like “estimated taxes” and “self-employment tax” show up with no explanation attached. Taxes for the Self-Employed, Explained Simply fixes the vocabulary and the concepts — what estimated taxes actually are, what “deductible” really means, how self-employment tax differs from income tax, and what records to keep so tax season stops being a scramble.

This book is deliberately honest about its limits: it won't calculate what you owe, tell you what you personally can deduct, or replace a tax professional. What it will do is make sure you actually understand the system before you sit down with one — so that conversation is spent on your numbers, not on the basics.

Inside, you'll learn how to:

• Understand why self-employment taxes feel so different from employee withholding

• Grasp the concept behind estimated tax payments

• Understand what “deductible” actually means, conceptually

• Tell self-employment tax and income tax apart

• Build recordkeeping habits that make tax season a non-event

• Work with a tax professional efficiently, without overpaying for basic organizing work

Part of the Business Basics That Work series: practical, no-fluff guides for freelancers, local shop owners, and small business owners who'd rather get it done than read a textbook.