Those who are self-employed generally are subject to higher Medicare and Social Security taxes, which together are alternately referred to as self-employment taxes.  Someone who has employee status pays only a portion of self-employment taxes, but self-employed individuals pay the entire amount of self-employment taxes.  This issue is particularly important because the expiration of the […]

One of the primary ways small business owners end up in trouble is to avoid the expense and complexities of payroll taxes by classifying workers as independent contractors. Generally speaking, you are responsible for withholding income taxes, withholding and paying Social Security and Medicare taxes and paying unemployment taxes on all wages paid to your […]