Small Business Owner Guide to Tax and Self Employment

Self-employment taxes can be a complex topic for small business owners to navigate. Understanding the ins and outs of tax obligations when you're self-employed is crucial to avoiding penalties and maximizing your profits. In this guide, we'll cover what self-employment taxes are, why they are unique to self-employed individuals, state-specific nuances to consider, and provide example scenarios to help you better grasp the concept. By the end of this guide, you'll have a clearer understanding of how self-employment taxes impact your business and how to handle them effectively.