If you earned any income in 2015 that didn't have payroll and Medicare taxes deducted, you may have to pay an additional tax known as self-employment tax, which unfortunately can take another 15.3% out of your earnings. With that in mind, here are the details on self-employment tax so you'll know what to expect, and the best way to plan for next year. What is self-employment tax?
Self-employment tax is designed to account for the fact that self-employed individuals don't hav
Thanks to tax preparation software, more of us are making fewer mistakes on our annual tax returns. But still, just one slip in entering information on your computer could end up costing you, either in the form of a larger tax bill or a smaller refund. And even if a mistake, either on your computer or paper forms, doesn't cost you cash, it could delay the receipt of any refund you're expecting. Tax changes also complicate the annual tax-filing exercise. For the 2015 tax year,