I’m thinking of starting my own business, and I have a couple of questions.***) What fo...
GetHuman3971267's customer service issue with IRS from November 2019
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I’m thinking of starting my own business, and I have a couple of questions.***) What forms would I need to use being self-employed? (Sole proprietorship, just myself)***) I read something online about how those who are self-employed file taxes more than once a year. How often and what are the dates that you would need our information by and when should it be sent out?***) If I’m unsure of how much my profits will be, how can I calculate how much I should automatically set aside to not spend? Do you think it’s better to spend under a certain percentage of the profits to be sure to have enough, and what would that percentage be? ***) What is the tax rate for everything (not just federal income tax, but also the other taxes that normally an employer would pay partially for - social security, Medicare*Medicaid, any other potential taxes)? Does it change annually? If so, where exactly will I be able to access that information?**I appreciate the response. It’s very much needed.**-Kaitlin Baron
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