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Self Employed Tax Filing

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Self Employed Tax Filing

Self employed tax filing 13. Self employed tax filing   Employment Taxes Table of Contents What's New for 2013 What's New for 2014 Reminders Important Dates for 2014 Introduction Topics - This chapter discusses: Useful Items - You may want to see: Farm Employment Family Employees Crew Leaders Social Security and Medicare TaxesReligious exemption. Self employed tax filing Wage limit. Self employed tax filing Federal Income Tax WithholdingNew Form W-4 for 2014. Self employed tax filing Required Notice to Employees About Earned Income Credit (EIC) Reporting and Paying Social Security, Medicare, and Withheld Federal Income TaxesElectronic deposit requirement. Self employed tax filing Federal Unemployment (FUTA) TaxReporting and Paying FUTA Tax What's New for 2013 Social security and Medicare tax for 2013. Self employed tax filing  The employee tax rate for social security is 6. Self employed tax filing 2%. Self employed tax filing Previously, the employee tax rate for social security was 4. Self employed tax filing 2%. Self employed tax filing The employer tax rate for social security remains unchanged at 6. Self employed tax filing 2%. Self employed tax filing The social security wage base limit is $113,700. Self employed tax filing The Medicare tax rate is 1. Self employed tax filing 45% each for the employee and employer, unchanged from 2012. Self employed tax filing There is no wage base limit for Medicare tax. Self employed tax filing Additional Medicare Tax. Self employed tax filing  In addition to withholding Medicare tax at 1. Self employed tax filing 45%, you must withhold a 0. Self employed tax filing 9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. Self employed tax filing You are required to begin withholding Additional Medicare Tax in the pay period in which you pay wages in excess of $200,000 to an employee and continue to withhold it each pay period until the end of the calendar year. Self employed tax filing Additional Medicare Tax is only imposed on the employee. Self employed tax filing There is no employer share of Additional Medicare Tax. Self employed tax filing All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 threshold. Self employed tax filing For more information on what wages are subject to Medicare tax, see the chart, Special Rules for Various Types of Services and Payments, in section 15 of Publication 15 (Circular E), Employer's Tax Guide. Self employed tax filing For more information on Additional Medicare Tax, visit IRS. Self employed tax filing gov and enter “Additional Medicare Tax” in the search box. Self employed tax filing Leave-based donation programs to aid victims of Hurricane Sandy. Self employed tax filing  Under these programs, employees may donate their vacation, sick, or personal leave in exchange for employer cash payments made before January 1, 2014, to qualified tax-exempt organizations providing relief for the victims of Hurricane Sandy. Self employed tax filing The donated leave will not be included in the income or wages of the employee. Self employed tax filing The employer may deduct the cash payments as business expenses or charitable contributions. Self employed tax filing For more information, see Notice 2012-69, 2012-51 I. Self employed tax filing R. Self employed tax filing B. Self employed tax filing 712, available at www. Self employed tax filing irs. Self employed tax filing gov/irb/2012-51_IRB/ar09. Self employed tax filing html. Self employed tax filing Work opportunity tax credit for qualified tax-exempt organizations hiring qualified veterans extended. Self employed tax filing  The work opportunity tax credit is now available for eligible unemployed veterans who begin work before January 1, 2014. Self employed tax filing Previously, the credit was available for unemployed veterans who began work on or after November 22, 2011, and before January 1, 2013. Self employed tax filing Qualified tax-exempt organizations that hire eligible unemployed veterans can claim the work opportunity tax credit against their payroll tax liability using Form 5884-C, Work Opportunity Credit for Qualified Tax-Exempt Organizations Hiring Qualified Veterans. Self employed tax filing For more information, visit IRS. Self employed tax filing gov and enter “work opportunity credit” in the search box. Self employed tax filing What's New for 2014 Social security and Medicare tax for 2014. Self employed tax filing  The employee and employer tax rates for social security and the maximum amount of wages subject to social security tax for 2014 will be discussed in Publication 51 (Circular A), Agricultural Employer's Tax Guide (For use in 2014). Self employed tax filing The Medicare tax rate for 2014 will also be discussed in Publication 51 (Circular A) (For use in 2014). Self employed tax filing There is no limit on the amount of wages subject to Medicare tax. Self employed tax filing Reminders Additional employment tax information for farmers. Self employed tax filing  See Publication 51 (Circular A) for more detailed guidance on employment taxes. Self employed tax filing For the latest information about employment tax developments impacting farmers, go to www. Self employed tax filing irs. Self employed tax filing gov/pub51. Self employed tax filing Correcting a previously filed Form 943. Self employed tax filing  If you discover an error on a previously filed Form 943, Employer's Annual Federal Tax Return for Agricultural Employees, make the correction using Form 943-X, Adjusted Employer's Annual Federal Tax Return for Agricultural Employees or Claim for Refund. Self employed tax filing Form 943-X is filed separately from Form 943. Self employed tax filing For more information on correcting Form 943, see the Instructions for Form 943-X. Self employed tax filing Federal tax deposits must be made by electronic funds transfer. Self employed tax filing  You must use electronic funds transfer to make all federal tax deposits. Self employed tax filing Generally, electronic funds transfers are made using the Electronic Federal Tax Payment System (EFTPS). Self employed tax filing If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. Self employed tax filing Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. Self employed tax filing EFTPS is a free service provided by the Department of Treasury. Self employed tax filing Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. Self employed tax filing For more information on making federal tax deposits, see section 7 of Publication 51 (Circular A). Self employed tax filing To get more information about EFTPS or to enroll in EFTPS, visit www. Self employed tax filing eftps. Self employed tax filing gov or call 1-800-555-4477 or 1-800-733-4829 (TDD). Self employed tax filing Additional information about EFTPS is also available in Publication 966, Electronic Federal Tax Payment System: A Guide To Getting Started. Self employed tax filing Important Dates for 2014 You should take the action indicated by the dates listed. Self employed tax filing See By February 15 and On February 16 for Form W-4, Employee's Withholding Allowance Certificate, information. Self employed tax filing Due dates for deposits of withheld federal income taxes, social security taxes, and Medicare taxes are not listed here. Self employed tax filing For these dates, see Publication 509, Tax Calendars (For use in 2014). Self employed tax filing Note. Self employed tax filing  If any date shown below for filing a return, furnishing a form, or depositing taxes falls on a Saturday, Sunday, or legal holiday, the due date is the next business day. Self employed tax filing A statewide legal holiday delays a filing or furnishing due date only if the IRS office where you are required to file a return or furnish a form is located in that state. Self employed tax filing For any due date, you will meet the “file” or “furnish” date requirement if the envelope containing the tax return or form is properly addressed, contains sufficient postage, and is postmarked by the U. Self employed tax filing S. Self employed tax filing Postal Service by the due date, or sent by an IRS-designated delivery service by the due date. Self employed tax filing See Private delivery services in Publication 51 (Circular A). Self employed tax filing Federal tax deposits can only be made by electronic funds transfer and are governed by legal holidays in the District of Columbia. Self employed tax filing Statewide holidays no longer apply. Self employed tax filing For a list of legal holidays that delay the due date of a federal tax deposit, see section 7 of Publication 51 (Circular A). Self employed tax filing Fiscal year taxpayers. Self employed tax filing  The due dates listed below apply whether you use a calendar or a fiscal year. Self employed tax filing By January 31. Self employed tax filing   File Form 943 with the IRS. Self employed tax filing If you deposited all Form 943 taxes when due, you have 10 additional days to file. Self employed tax filing Furnish each employee with a completed Form W-2, Wage and Tax Statement. Self employed tax filing Furnish each recipient to whom you paid $600 or more in nonemployee compensation with a completed Form 1099 (for example, Form 1099-MISC). Self employed tax filing File Form 940, Employer's Annual Federal Unemployment (FUTA) Tax Return, with the IRS. Self employed tax filing If you deposited all the FUTA tax when due, you have 10 additional days to file. Self employed tax filing File Form 945, Annual Return of Withheld Federal Income Tax, with the IRS to report any nonpayroll income tax withheld during 2013. Self employed tax filing If you deposited all Form 945 taxes when due, you have 10 additional days to file. Self employed tax filing By February 15. Self employed tax filing  Ask for a new Form W-4 or Formulario W-4(SP), Certificado de Exención de Retenciones del Empleado, from each employee who claimed exemption from federal income tax withholding last year. Self employed tax filing On February 16. Self employed tax filing  Any Form W-4 claiming exemption from withholding for the previous year has now expired. Self employed tax filing Begin withholding for any employee who previously claimed exemption from withholding but has not given you a new Form W-4 for the current year. Self employed tax filing If the employee does not give you a new Form W-4, withhold taxes based on the last valid Form W-4 you have for the employee that does not claim exemption from withholding or, if one does not exist, as if he or she is single with zero withholding allowances. Self employed tax filing If the employee furnishes a new Form W-4 claiming exemption from withholding after February 15, you may apply the exemption to future wages, but do not refund taxes withheld while the exempt status was not in place. Self employed tax filing By February 28. Self employed tax filing   File paper Forms 1099 and 1096. Self employed tax filing File Copy A of all paper Forms 1099 with Form 1096, Annual Summary and Transmittal of U. Self employed tax filing S. Self employed tax filing Information Returns, with the IRS. Self employed tax filing For electronically filed returns, see By March 31 below. Self employed tax filing File paper Forms W-2 and W-3. Self employed tax filing File Copy A of all paper Forms W-2 with Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration (SSA). Self employed tax filing For electronically filed returns, see By March 31 below. Self employed tax filing By March 31. Self employed tax filing   File electronic Forms W-2 and 1099. Self employed tax filing File electronic Forms W-2 with the SSA and Forms 1099 with the IRS. Self employed tax filing For more information on reporting Form W-2 information to the SSA electronically, visit the SSA's Employer W-2 Filing Instructions & Information webpage at www. Self employed tax filing socialsecurity. Self employed tax filing gov/employer. Self employed tax filing For information on filing information returns electronically with the IRS, see Publication 1220, Specifications for Filing Forms 1097, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G Electronically. Self employed tax filing By April 30, July 31, October 31, and January 31. Self employed tax filing   Deposit FUTA taxes. Self employed tax filing Deposit FUTA tax due if it is more than $500. Self employed tax filing Before December 1. Self employed tax filing  Remind employees to submit a new Form W-4 if their withholding allowances have changed or will change for the next year. Self employed tax filing Introduction You are generally required to withhold federal income tax from the wages of your employees. Self employed tax filing You may also be subject to social security and Medicare taxes under the Federal Insurance Contributions Act (FICA) and federal unemployment tax under the Federal Unemployment Tax Act (FUTA). Self employed tax filing You must also withhold Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. Self employed tax filing This chapter includes information about these taxes. Self employed tax filing You must also pay self-employment tax on your net earnings from farming. Self employed tax filing See chapter 12 for information on self-employment tax. Self employed tax filing Topics - This chapter discusses: Farm employment, Family employees, Crew leaders, Social security and Medicare taxes, Additional Medicare Tax withholding, Federal income tax withholding, Reporting and paying social security, Medicare, and withheld federal income taxes, and FUTA tax. Self employed tax filing Useful Items - You may want to see: Publication 15 (Circular E), Employer's Tax Guide 15-A Employer's Supplemental Tax Guide 15-B Employer's Tax Guide to Fringe Benefits 51 (Circular A), Agricultural Employer's Tax Guide 926 Household Employer's Tax Guide Form (and Instructions) W-2 Wage and Tax Statement W-4 Employee's Withholding Allowance Certificate W-9 Request for Taxpayer Identification Number and Certification 940 Employer's Annual Federal Unemployment (FUTA) Tax Return 943 Employer's Annual Federal Tax Return for Agricultural Employees 943-X Adjusted Employer's Annual Federal Tax Return for Agricultural Employees or Claim for Refund See chapter 16 for information about getting publications and forms. Self employed tax filing Farm Employment In general, you are an employer of farmworkers if your employees do any of the following types of work. Self employed tax filing Raising or harvesting agricultural or horticultural products on a farm, including raising and feeding of livestock. Self employed tax filing Operating, managing, conserving, improving, or maintaining your farm and its tools and equipment. Self employed tax filing Services performed in salvaging timber, or clearing land of brush and other debris, left by a hurricane (also known as hurricane labor). Self employed tax filing Handling, processing, or packaging any agricultural or horticultural commodity if you produced more than half of the commodity (for a group of up to 20 unincorporated operators, all of the commodity). Self employed tax filing Work related to cotton ginning, turpentine, gum resin products, or the operation and maintenance of irrigation facilities. Self employed tax filing For more information, see Publication 51 (Circular A). Self employed tax filing Generally, a worker who performs services for you is your employee if you have the right to control what will be done and how it will be done. Self employed tax filing This is so even when you give the employee freedom of action. Self employed tax filing What matters is that you have the right to control the details of how the services are performed. Self employed tax filing You are responsible for withholding and paying employment taxes for your employees. Self employed tax filing You are also required to file employment tax returns. Self employed tax filing These requirements do not apply to amounts that you pay to independent contractors. Self employed tax filing See Publication 15-A for more information on how to determine whether an individual providing services is an independent contractor or an employee. Self employed tax filing If you employ a family of workers, each worker subject to your control (not just the head of the family) is an employee. Self employed tax filing Special rules apply to crew leaders. Self employed tax filing See Crew Leaders , later. Self employed tax filing Employer identification number (EIN). Self employed tax filing   If you have employees, you must have an EIN. Self employed tax filing If you do not have an EIN, you may apply for one online. Self employed tax filing Go to IRS. Self employed tax filing gov and click on the Apply for an EIN Online link under Tools. Self employed tax filing You may also apply for an EIN by calling 1-800-829-4933 or 1-800-829-4059 (TDD/TTY for persons who are deaf, hard of hearing, or have a speech disability). Self employed tax filing The hours of operation for both numbers are Monday–Friday form 7:00 a. Self employed tax filing m. Self employed tax filing –7:00 p. Self employed tax filing m. Self employed tax filing local time (Alaska and Hawaii follow Pacific time). Self employed tax filing You can also fax or mail Form SS-4, Application for Employer Identification Number, to the IRS. Self employed tax filing Employee's social security number (SSN). Self employed tax filing   An employee who does not have an SSN should submit Form SS-5, Application for a Social Security Card, to the Social Security Administration (SSA). Self employed tax filing Form SS-5 is available from any SSA office or by calling 1-800-772-1213 (operates 24 hours per day). Self employed tax filing It is also available from the SSA's website at www. Self employed tax filing socialsecurity. Self employed tax filing gov. Self employed tax filing   The employee must furnish evidence of age, identity, and U. Self employed tax filing S. Self employed tax filing citizenship or lawful immigration status permitting employment with the Form SS-5. Self employed tax filing An employee who is age 18 or older must appear in person with this evidence at an SSA office. Self employed tax filing Form I-9. Self employed tax filing    You must verify that each new employee is legally eligible to work in the United States. Self employed tax filing This includes completing the Form I-9, Employment Eligibility Verification. Self employed tax filing Form I-9 is available from the U. Self employed tax filing S. Self employed tax filing Citizenship and Immigration Services (USCIS) offices or by calling the Bureau of Citizenship and Immigration Services Forms Request Line at 1-800-870-3676. Self employed tax filing Form I-9 is also available from the USCIS website at www. Self employed tax filing uscis. Self employed tax filing gov. Self employed tax filing You can also contact the USCIS at 1-800-375-5283 for more information. Self employed tax filing New hire reporting. Self employed tax filing   You are required to report any new employee to a designated state new hire registry. Self employed tax filing Many states accept a copy of Form W-4 with employer information added. Self employed tax filing Visit the Office of Child Support Enforcement website at www. Self employed tax filing acf. Self employed tax filing hhs. Self employed tax filing gov/programs/cse/newhire for more information. Self employed tax filing Family Employees Generally, the wages you pay to family members who are your employees are subject to employment taxes. Self employed tax filing However, certain exemptions may apply to wages paid to your child, spouse, or parent. Self employed tax filing Exemptions for your child. Self employed tax filing   Payments for the services of your child under age 18 who works for you in your trade or business (including a farm) are not subject to social security and Medicare taxes. Self employed tax filing However, see Nonexempt services of a child or spouse , later. Self employed tax filing Payments for the services of your child under age 21 employed by you in other than a trade or business, such as payments for household services in your home, are also not subject to social security or Medicare taxes. Self employed tax filing Payments for the services of your child under age 21 employed by you, whether or not in your trade or business, are not subject to FUTA tax. Self employed tax filing Although not subject to social security, Medicare, or FUTA tax, the child's wages still may be subject to federal income tax withholding. Self employed tax filing Exemptions for your spouse. Self employed tax filing   Payments for the services of your spouse who works for you in your trade or business are subject to federal income tax withholding and social security and Medicare taxes, but not FUTA tax. Self employed tax filing   Payments for the services of your spouse employed by you in other than a trade or business, such as payments for household services in your home, are not subject to social security, Medicare, or FUTA taxes. Self employed tax filing Nonexempt services of a child or spouse. Self employed tax filing   Payments for the services of your child or spouse are subject to federal income tax withholding as well as social security, Medicare, and FUTA taxes if he or she works for any of the following entities. Self employed tax filing A corporation, even if it is controlled by you. Self employed tax filing A partnership, even if you are a partner. Self employed tax filing This does not apply to wages paid to your child if each partner is a parent of the child. Self employed tax filing An estate or trust, even if it is the estate of a deceased parent. Self employed tax filing In these situations, the child or spouse is considered to work for the corporation, partnership, or estate, not you. Self employed tax filing Exemptions for your parent. Self employed tax filing   Payments for the services of your parent employed by you in your trade or business are subject to federal income tax withholding and social security and Medicare taxes. Self employed tax filing Social security and Medicare taxes do not apply to wages paid to your parent for services not in your trade or business, but they do apply to payments for household services in your home if both the following conditions are satisfied. Self employed tax filing You have a child living in your home who is under age 18 or has a physical or mental condition that requires care by an adult for at least 4 continuous weeks in a calendar quarter. Self employed tax filing You are a widow or widower; or divorced and not remarried; or have a spouse in the home who, because of a physical or mental condition, cannot care for your child for at least 4 continuous weeks in the quarter. Self employed tax filing   Wages you pay to your parent are not subject to FUTA tax, regardless of the type of services provided. Self employed tax filing Qualified joint venture. Self employed tax filing   If spouses elect to be treated as a qualified joint venture instead of a partnership, either spouse may report and pay the employment taxes due on the wages paid to employees using the EIN of that spouse's sole proprietorship. Self employed tax filing For more information about qualified joint ventures, see chapter 12. Self employed tax filing Crew Leaders If farmworkers are provided by a crew leader, the crew leader may be the employer of the workers. Self employed tax filing Social security and Medicare taxes. Self employed tax filing   For social security and Medicare tax purposes, the crew leader is the employer of the workers if both of the following requirements are met. Self employed tax filing The crew leader pays (either on his or her own behalf or on behalf of the farmer) the workers for their farm labor. Self employed tax filing The crew leader has not entered into a written agreement with the farmer under which the crew leader is designated as an employee of the farmer. Self employed tax filing Federal income tax withholding. Self employed tax filing   If the crew leader is the employer for social security and Medicare tax purposes, the crew leader is the employer for federal income tax withholding purposes. Self employed tax filing Federal unemployment (FUTA) tax. Self employed tax filing   For FUTA tax purposes, the crew leader is the employer of the workers if, in addition to the earlier requirements, either of the following requirements are met. Self employed tax filing The crew leader is registered under the Migrant and Seasonal Agricultural Worker Protection Act. Self employed tax filing Substantially all crew members operate or maintain mechanized equipment provided by the crew leader as part of the service to the farmer. Self employed tax filing   The farmer is the employer of workers furnished by a crew leader in all other situations. Self employed tax filing In addition, the farmer is the employer of workers furnished by a registered crew leader if the workers are the employees of the farmer under the common-law test. Self employed tax filing For example, some farmers employ individuals to recruit farmworkers exclusively for them. Self employed tax filing Although these individuals may be required to register under the Migrant and Seasonal Agricultural Worker Protection Act, the workers are employed directly by the farmer. Self employed tax filing The farmer is the employer in these cases. Self employed tax filing For information about common-law employees, see section 1 of Publication 15-A. Self employed tax filing For information about crew leaders, see the Department of Labor website at www. Self employed tax filing dol. Self employed tax filing gov/whd/regs/compliance/whdfs49. Self employed tax filing htm. Self employed tax filing Social Security and Medicare Taxes All cash wages you pay to an employee during the year for farmwork are subject to social security and Medicare taxes if you meet either of the following tests. Self employed tax filing You pay the employee $150 or more in cash wages (count all wages paid on a time, piecework, or other basis) during the year for farmwork (the $150 test). Self employed tax filing The $150 test applies separately to each farmworker that you employ. Self employed tax filing If you employ a family of workers, each member is treated separately. Self employed tax filing Do not count wages paid by other employers. Self employed tax filing You pay cash and noncash wages of $2,500 or more during the year to all your employees for farmwork (the $2,500 test). Self employed tax filing If the $2,500 test for the group is not met, the $150 test for an employee still applies. Self employed tax filing Exceptions. Self employed tax filing   Annual cash wages of less than $150 you pay to a seasonal farmworker are not subject to social security and Medicare taxes, even if you pay $2,500 or more to all your farmworkers. Self employed tax filing However, these wages count toward the $2,500 test for determining whether other farmworkers' wages are subject to social security and Medicare taxes. Self employed tax filing   A seasonal farmworker is a worker who: Works as a hand-harvest laborer, Is paid piece rates in an operation usually paid on this basis in the region of employment, Commutes daily from his or her permanent home to the farm, and Worked in agriculture less than 13 weeks in the preceding calendar year. Self employed tax filing   See Family Employees , earlier, for certain exemptions from social security and Medicare taxes that apply to your child, spouse, and parent. Self employed tax filing Religious exemption. Self employed tax filing   An exemption from social security and Medicare taxes is available to members of a recognized religious group or division opposed to public insurance. Self employed tax filing This exemption is available only if both the employee and the employer are members of the group or division. Self employed tax filing   For more information, see Publication 517, Social Security and Other Information for Members of the Clergy and Religious Workers. Self employed tax filing Cash wages. Self employed tax filing   Only cash wages paid to farmworkers are subject to social security and Medicare taxes. Self employed tax filing Cash wages include checks, money orders, and any kind of money or cash. Self employed tax filing   Only cash wages subject to social security and Medicare taxes are credited to your employees for social security benefit purposes. Self employed tax filing Payments not subject to these taxes, such as commodity wages, do not contribute to your employees' social security coverage. Self employed tax filing For information about social security benefits, contact the SSA at 1-800-772-1213 or online at www. Self employed tax filing socialsecurity. Self employed tax filing gov. Self employed tax filing Noncash wages. Self employed tax filing    Noncash wages include food, lodging, clothing, transportation passes, and other goods and services. Self employed tax filing Noncash wages paid to farmworkers, including commodity wages, are not subject to social security and Medicare taxes. Self employed tax filing However, they are subject to these taxes if the substance of the transaction is a cash payment. Self employed tax filing For information on lodging provided as a condition of employment, see Publication 15-B. Self employed tax filing   Report the value of noncash wages in box 1 of Form W-2 together with cash wages. Self employed tax filing Do not show noncash wages in box 3 or in box 5, (unless the substance of the transaction is a cash payment). Self employed tax filing Tax rates and social security wage limit. Self employed tax filing   For 2013, the employer and the employee will pay the following taxes. Self employed tax filing The employer and employee each pay 6. Self employed tax filing 2% of cash wages for social security tax (old-age, survivors, and disability insurance). Self employed tax filing The employer and employee each pay 1. Self employed tax filing 45% of cash wages for Medicare tax (hospital insurance). Self employed tax filing The employee pays 0. Self employed tax filing 9% of cash wages in excess of $200,000 for Additional Medicare Tax. Self employed tax filing Wage limit. Self employed tax filing   The limit on wages subject to the social security tax for 2013 is $113,700. Self employed tax filing There is no limit on wages subject to the Medicare tax. Self employed tax filing All covered wages are subject to the Medicare tax. Self employed tax filing Additionally, all wages in excess of $200,000 are subject to Additional Medicare Tax withholding. Self employed tax filing Paying employee's share. Self employed tax filing   If you would rather pay the employee's share of social security and Medicare taxes without deducting it from his or her wages, you may do so. Self employed tax filing It is additional income to the employee. Self employed tax filing You must include it in box 1 of the employee's Form W-2, but do not count it as social security and Medicare wages (boxes 3 and 5 on Form W-2) or as wages for federal unemployment (FUTA) tax purposes. Self employed tax filing Example. Self employed tax filing Jane operates a small family fruit farm. Self employed tax filing She employs day laborers in the picking season to enable her to timely get her crop to market. Self employed tax filing She does not deduct the employees' share of social security and Medicare taxes from their pay; instead, she pays it on their behalf. Self employed tax filing When her accountant, Susan, prepares the employees' Forms W-2, she adds each employee's share of social security and Medicare taxes paid by Jane to the employee's wage income (box 1 of Form W-2), but does not include it in box 3 (social security wages) or box 5 (Medicare wages and tips). Self employed tax filing For 2013, Jane paid Mary $1,000 during the year. Self employed tax filing Susan enters $1,076. Self employed tax filing 50 in box 1 of Mary's Form W-2 ($1,000 wages plus $76. Self employed tax filing 50 social security and Medicare taxes paid for Mary). Self employed tax filing She enters $1,000 in boxes 3 and 5 of Mary's Form W-2. Self employed tax filing Additional Medicare Tax. Self employed tax filing   In addition to withholding Medicare tax at 1. Self employed tax filing 45%, you must withhold a 0. Self employed tax filing 9% Additional Medicare Tax from wages you pay to an employee in excess of $200,000 in a calendar year. Self employed tax filing You are required to begin withholding Additional Medicare Tax in the pay period in which you pay wages in excess of $200,000 to an employee and continue to withhold it each pay period until the end of the calendar year. Self employed tax filing Additional Medicare Tax is only imposed on the employee. Self employed tax filing There is no employer share of Additional Medicare Tax. Self employed tax filing All wages that are subject to Medicare tax are subject to Additional Medicare Tax withholding if paid in excess of the $200,000 threshold. Self employed tax filing   For more information on what wages are subject to Medicare tax, see the chart, Special Rules for Various Types of Services and Payments, in section 15 of Publication 15 (Circular E). Self employed tax filing For more information on Additional Medicare Tax, visit IRS. Self employed tax filing gov and enter “Additional Medicare Tax” in the search box. Self employed tax filing Federal Income Tax Withholding If the cash wages you pay to farmworkers are subject to social security and Medicare taxes, they are also subject to federal income tax withholding. Self employed tax filing Although noncash wages are subject to federal income tax, withhold income tax only if you and the employee agree to do so. Self employed tax filing The amount to withhold is figured on gross wages without taking out social security and Medicare taxes, union dues, insurance, etc. Self employed tax filing Form W-4. Self employed tax filing   Generally, the amount of federal income tax you withhold is based on the employee's marital status and withholding allowances claimed on the employee's Form W-4. Self employed tax filing In general, an employee can claim withholding allowances on Form W-4 equal to the number of exemptions the employee will be entitled to claim on his or her tax return. Self employed tax filing An employee may also be able to claim a special withholding allowance and allowances for estimated deductions and credits. Self employed tax filing   Do not withhold federal income tax from the wages of an employee who, by filing Form W-4, certifies that he or she had no federal income tax liability last year and anticipates no liability for the current year. Self employed tax filing   You should give each new employee a Form W-4 as soon as you hire the employee. Self employed tax filing For Spanish-speaking employees, you may use Formulario W-4(SP) which is the Spanish translation of Form W-4. Self employed tax filing Have the employee complete and return the form to you before the first payday. Self employed tax filing If the employee does not return the completed form, you must withhold federal income tax as if the employee is single and claims no withholding allowances. Self employed tax filing New Form W-4 for 2014. Self employed tax filing   You should make the 2014 Form W-4 available to your employees and encourage them to check their income tax withholding for 2014. Self employed tax filing Those employees who owed a large amount of tax or received a large refund for 2013 may want to submit a new Form W-4. Self employed tax filing You cannot accept substitute Forms W-4 developed by employees. Self employed tax filing How to figure withholding. Self employed tax filing   You can use one of several methods to determine the amount to withhold. Self employed tax filing The methods are described in Publication 51 (Circular A), which contains tables showing the correct amount of federal income tax you should withhold. Self employed tax filing Publication 51 (Circular A) also contains additional information about federal income tax withholding. Self employed tax filing Nonemployee compensation. Self employed tax filing   Generally, you do not have to withhold federal income tax on payments for services to individuals who are not your employees. Self employed tax filing However, you may be required to report these payments on Form 1099-MISC, Miscellaneous Income, and to withhold under the backup withholding rules. Self employed tax filing For more information, see the Instructions for Form 1099-MISC. Self employed tax filing Required Notice to Employees About Earned Income Credit (EIC) You must provide notification about EIC to each employee who worked for you at any time during the year and from whom you did not withhold any federal income tax. Self employed tax filing However, you do not have to notify employees who claim exemption from federal income tax withholding on Form W-4. Self employed tax filing You meet the notification requirement by giving each employee any of the following. Self employed tax filing Form W-2, which contains EIC notification on the back of Copy B. Self employed tax filing A substitute Form W-2 with the exact EIC wording shown on the back of copy B of Form W-2. Self employed tax filing Notice 797, Possible Federal Tax Refund Due to the Earned Income Credit (EIC). Self employed tax filing Your own written statement with the exact wording of Notice 797. Self employed tax filing For more information, see Publication 51 (Circular A). Self employed tax filing Reporting and Paying Social Security, Medicare, and Withheld Federal Income Taxes You must withhold federal income, social security, and Medicare taxes required to be withheld from the salaries and wages of your employees. Self employed tax filing You are liable for the payment of these taxes to the federal government whether or not you collect them from your employees. Self employed tax filing If, for example, you withhold less than the correct tax from an employee's wages, you are still liable for the full amount. Self employed tax filing You must also pay the employer's share of social security and Medicare taxes. Self employed tax filing There is no employer share of Additional Medicare Tax. Self employed tax filing Form 943. Self employed tax filing   Report withheld federal income tax, social security tax, and Medicare tax on Form 943. Self employed tax filing Your 2013 Form 943 is due by January 31, 2014 (or February 10, 2014, if you made deposits on time in full payment of the taxes due for the year). Self employed tax filing Deposits. Self employed tax filing   Generally, you must deposit both the employer and employee shares of social security and Medicare taxes and federal income tax withheld during the year. Self employed tax filing However, you may make payments with Form 943 instead of depositing them if you accumulate less than a $2,500 tax liability (“Total taxes after adjustments” line on Form 943) during the year and you pay in full with a timely filed return. Self employed tax filing   For more information on deposit rules, see Publication 51 (Circular A). Self employed tax filing Electronic deposit requirement. Self employed tax filing   You must use electronic funds transfer to make all federal tax deposits. Self employed tax filing Generally, electronic funds transfers are made using EFTPS. Self employed tax filing If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. Self employed tax filing Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. Self employed tax filing EFTPS is a free service provided by the Department of Treasury. Self employed tax filing Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. Self employed tax filing   For more information on making federal tax deposits, see section 7 of Publication 51 (Circular A). Self employed tax filing To get more information about EFTPS or to enroll in EFTPS, visit www. Self employed tax filing eftps. Self employed tax filing gov or call 1-800-555-4477 or 1-800-733-4829 (TDD). Self employed tax filing Additional information about EFTPS is also available in Publication 966. Self employed tax filing Form W-2. Self employed tax filing   By January 31, you must furnish each employee a Form W-2 showing total wages for the previous year and total federal income tax, social security tax, and Medicare tax withheld. Self employed tax filing However, if an employee stops working for you and requests the form earlier, you must give it to the employee within 30 days of the later of the following dates. Self employed tax filing The date the employee requests the form. Self employed tax filing The date you make your final payment of wages to the employee. Self employed tax filing Compensation paid to H-2A visa holders. Self employed tax filing   Report compensation of $600 or more paid to foreign agricultural workers who entered the country on H-2A visas in box 1 of Form W-2. Self employed tax filing Compensation paid to H-2A workers for agricultural labor performed in connection with this visa is not subject to social security and Medicare taxes, and therefore should not be reported as wages subject to social security tax (line 2), Medicare tax (line 4), or Additional Medicare Tax (line 6) on Form 943, and should not be reported as social security wages (box 3) or Medicare wages (box 5) on Form W-2. Self employed tax filing   An employer is not required to withhold federal income tax from compensation it pays to an H-2A worker for agricultural labor performed in connection with this visa unless the worker asks for withholding and the employer agrees. Self employed tax filing In this case, the worker must give the employer a completed Form W-4. Self employed tax filing Federal income tax withheld should be reported on Form 943, line 8, and in box 2 of Form W-2. Self employed tax filing   These reporting rules apply when the H-2A worker provides his or her taxpayer identification number (TIN) to the employer. Self employed tax filing For the rules relating to backup withholding and reporting when the H-2A worker does not provide a TIN, see the Instructions for Form 1099-MISC and the Instructions for Form 945. Self employed tax filing Trust fund recovery penalty. Self employed tax filing   If you are responsible for withholding, accounting for, depositing, or paying federal withholding taxes and willfully fail to do so, you can be held liable for a penalty equal to the withheld tax not paid. Self employed tax filing A responsible person can be an officer of a corporation, a partner, a sole proprietor, or an employee of any form of business. Self employed tax filing A trustee or agent with authority over the funds of the business can also be held responsible for the penalty. Self employed tax filing   Willfully means voluntarily, consciously, and intentionally. Self employed tax filing Paying other expenses of the business instead of the taxes due is acting willfully. Self employed tax filing Consequences of treating an employee as an independent contractor. Self employed tax filing   If you classify an employee as an independent contractor and you have no reasonable basis for doing so, you may be held liable for employment taxes for that worker. Self employed tax filing See Publication 15-A for more information. Self employed tax filing Federal Unemployment (FUTA) Tax You must pay FUTA tax if you meet either of the following tests. Self employed tax filing You paid cash wages of $20,000 or more to farmworkers in any calendar quarter during the current or preceding calendar year. Self employed tax filing You employed 10 or more farmworkers for some part of at least 1 day during any 20 or more different calendar weeks during the current or preceding calendar year. Self employed tax filing These rules do not apply to exempt services of your spouse, your parents, or your children under age 21. Self employed tax filing See Family Employees , earlier. Self employed tax filing Alien farmworkers. Self employed tax filing   Wages paid to aliens admitted on a temporary basis to the United States to perform farmwork (also known as “H-2A visa workers”) are exempt from FUTA tax. Self employed tax filing However, include your employment of these workers and the wages you paid them to determine whether you meet either of the above tests. Self employed tax filing Commodity wages. Self employed tax filing   Payments in kind for farm labor are not cash wages. Self employed tax filing Do not count them to figure whether you are subject to FUTA tax or to figure how much tax you owe. Self employed tax filing Tax rate and credit. Self employed tax filing   The gross FUTA tax rate is 6. Self employed tax filing 0% of the first $7,000 cash wages you pay to each employee during the year. Self employed tax filing However, you are given a credit of up to 5. Self employed tax filing 4% of the first $7,000 cash wages you pay to each employee for the state unemployment tax you pay. Self employed tax filing If your state tax rate (experience rate) is less than 5. Self employed tax filing 4%, you may still be allowed the full 5. Self employed tax filing 4% credit. Self employed tax filing   If you do not pay the state tax, you cannot take the credit. Self employed tax filing If you are exempt from state unemployment tax for any reason, the full 6. Self employed tax filing 0% rate applies. Self employed tax filing See the Instructions for Form 940 for additional information. Self employed tax filing More information. Self employed tax filing   For more information on FUTA tax, see Publication 51 (Circular A). Self employed tax filing Reporting and Paying FUTA Tax The FUTA tax is imposed on you as the employer. Self employed tax filing It must not be collected or deducted from the wages of your employees. Self employed tax filing Form 940. Self employed tax filing   Report FUTA tax on Form 940. Self employed tax filing The 2013 Form 940 is due January 31, 2014 (or February 10, 2014, if you timely deposited the full amount of your 2013 FUTA tax). Self employed tax filing Deposits. Self employed tax filing   If at the end of any calendar quarter you owe, but have not yet deposited, more than $500 in FUTA tax for the year, you must make a deposit by the end of the following month. Self employed tax filing If the undeposited tax is $500 or less at the end of a quarter, you do not have to deposit it. Self employed tax filing You can add it to the tax for the next quarter. Self employed tax filing If the total undeposited tax is more than $500 at the end of the next quarter, a deposit will be required. Self employed tax filing If the total undeposited tax at the end of the 4th quarter is $500 or less, you can either make a deposit or pay it with your return by the January 31, 2014, due date. Self employed tax filing Electronic deposit requirement. Self employed tax filing   You must use electronic funds transfer to make all federal tax deposits. Self employed tax filing Generally, electronic funds transfers are made using EFTPS. Self employed tax filing If you do not want to use EFTPS, you can arrange for your tax professional, financial institution, payroll service, or other trusted third party to make electronic deposits on your behalf. Self employed tax filing Also, you may arrange for your financial institution to initiate a same-day wire payment on your behalf. Self employed tax filing EFTPS is a free service provided by the Department of Treasury. Self employed tax filing Services provided by your tax professional, financial institution, payroll service, or other third party may have a fee. Self employed tax filing   For more information on making federal tax deposits, see section 7 of Publication 51 (Circular A). Self employed tax filing To get more information about EFTPS or to enroll in EFTPS, visit www. Self employed tax filing eftps. Self employed tax filing gov or call 1-800-555-4477 or 1-800-733-4829 (TDD). Self employed tax filing Additional information about EFTPS is also available in Publication 966. Self employed tax filing Prev  Up  Next   Home   More Online Publications
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The Self Employed Tax Filing

Self employed tax filing Índice Pérdidas en ciertas actividades madereras, retroactivación a 5 años, Traspaso a 5 años de NOL por ciertas pérdidas en actividades madereras. Self employed tax filing A Actividad maderera: Costos de reforestación, Costos de Reforestación Retroactivación a 5 años de NOL, Costos de Reforestación Apógrafo de la declaración de impuestos, solicitud de, Solicitud de apógrafo de la declaración de impuestos. Self employed tax filing Ayuda: Ayuda especial del IRS, Cómo Obtener Ayuda con los Impuestos Cibersitio del IRS, Cómo Obtener Ayuda con los Impuestos Cómo obtener, Cómo Obtener Ayuda con los Impuestos Teléfono, Cómo Obtener Ayuda con los Impuestos C Cancelación de endeudamiento, Exclusión de Ciertas Cancelaciones de Endeudamiento por Motivos del Huracán Katrina Cibersitio del IRS, Servicios gratis con los impuestos. Self employed tax filing Contribuciones caritativas, Suspensión Temporal de los Límites sobre las Contribuciones Caritativas Contribuyentes afectados, Contribuyentes afectados. Self employed tax filing Conversión involuntaria (ver Plazo de reposición para que las ganancias no sean reconocidas) Copia de su declaración de impuestos, solicitud de, Solicitud de copia de la declaración de impuestos. Self employed tax filing Costos de demolición, Costos de Demolición y Limpieza Costos de limpieza, Costos de Demolición y Limpieza Costos de reforestación, Costos de Reforestación Crédito Hope (ver Créditos por enseñanza superior) Crédito perpétuo (vitalicio) por aprendizaje (ver Créditos por enseñanza superior) Crédito por ingreso del trabajo, Crédito por Ingreso del Trabajo y Crédito Tributario por Hijos Crédito por la retención de empleados, Créditos por la Retención de Empleados Crédito por oportunidad de trabajo, Crédito por Oportunidad de Trabajo Crédito por vivienda para afectados por el huracán Katrina, Crédito por Vivienda del Huracán Katrina Crédito tributario por hijos, Crédito por Ingreso del Trabajo y Crédito Tributario por Hijos Crédito tributario por rehabilitación, Aumento del Crédito Tributario por Rehabilitación Créditos por enseñanza superior, Créditos Tributarios por Enseñanza Superior Créditos: Enseñanza superior, Créditos Tributarios por Enseñanza Superior Impuesto por rehabilitación, Aumento del Crédito Tributario por Rehabilitación Ingreso del trabajo, Crédito por Ingreso del Trabajo y Crédito Tributario por Hijos Oportunidad de trabajo, Crédito por Oportunidad de Trabajo Retención de empleados , Créditos por la Retención de Empleados Tributario por hijos, Crédito por Ingreso del Trabajo y Crédito Tributario por Hijos Vivienda para afectados por el huracán Katrina, Crédito por Vivienda del Huracán Katrina Cuentas IRA y otros planes de jubilación, Las Cuentas IRA y Otros Planes de Jubilación D Declaración de impuestos: Solicitud de apógrafo, Solicitud de apógrafo de la declaración de impuestos. Self employed tax filing Solicitud de una copia, Solicitud de copia de la declaración de impuestos. Self employed tax filing Deducción caritativa: Inventario de alimentos, Deducción Caritativa por Contribuciones de Inventario de Alimentos Inventario de libros, Deducción Caritativa por Contribuciones de Inventarios de Libros a Escuelas Públicas Deducción conforme a la sección 179, Mayor Deducción Conforme a la Sección 179 Defensor del contribuyente, Poniéndose en contacto con el Defensor del Contribuyente. Self employed tax filing Depreciación : Asignación especial , Asignación (Descuento) Especial de Depreciación Depreciación: Propiedad calificada de la Zona GO, Propiedad calificada de la Zona GO. Self employed tax filing Distribución calificada por motivos del huracán, Distribución calificada por motivos del huracán. Self employed tax filing Distribuciones: Compra o construcción de una vivienda, Reintegro de Distribuciones Calificadas por la Compra o Construcción de un Hogar Principal Huracán calificado, Distribución calificada por motivos del huracán. Self employed tax filing Reintegro de, Reintegro de Distribuciones Calificadas por Motivos de un Huracán Tributación de, Tributación de Distribuciones Calificadas por Motivos de un Huracán E Exención adicional por provisión de vivienda, Exenciones Adicionales por la Provisión de Vivienda para Personas que Tuvieron que Abandonar sus Hogares por Causa del Huracán Katrina F Fechas de vencimiento, prorrogadas, Prórrogas de las Fechas de Vencimiento Tributarias I Internet: Cibersitio del IRS, Servicios gratis con los impuestos. Self employed tax filing Inventario de alimentos, deducción caritativa por , Deducción Caritativa por Contribuciones de Inventario de Alimentos Inventario de libros, deducción caritativa por, Deducción Caritativa por Contribuciones de Inventarios de Libros a Escuelas Públicas P Pérdida calificada en una Zona GO, Pérdida calificada en una Zona GO. Self employed tax filing Pérdidas netas de operación , Pérdidas Netas de Operación Pérdidas por hechos fortuitos y robos, Pérdidas por Hechos Fortuitos y Robos Pérdidas por robo, Pérdidas por Hechos Fortuitos y Robos Plan de jubilación elegible, Plan de jubilación elegible. Self employed tax filing Planes de jubilación, Las Cuentas IRA y Otros Planes de Jubilación Plazo de reposición para que las ganancias no sean reconocidas, Período de Reposición para que las Ganancias no sean Reconocidas R Reembolsos de millas, voluntarios que prestaron servicios con fines caritativos, Reembolsos de Millas a Voluntarios que Prestaron Servicios con Fines Caritativos Reubicación temporal, Alivio Tributario para la Reubicación Temporal S Servicio de Impuestos Internos (IRS): Cibersitio del, Servicios gratis con los impuestos. Self employed tax filing Subsidio hipotecario federal, recuperación, Recuperación del Subsidio Hipotecario Federal T Tasa estándar por milla, uso con fines caritativos, Tasa Estándar por Milla para el Uso de Vehículos para Fines Caritativos Z Zona central del desastre, Zona de Oportunidad del Golfo (GO) (Zona Central del Desastre) Zona de desastre con cobertura: Katrina, Zona de Desastre del Huracán Katrina con Cobertura Rita, Zona de Desastre del Huracán Rita (Zona de Desastre de Rita con Cobertura) Wilma, Zona de Desastre del Huracán Wilma con Cobertura Zona de desastre: Huracán Katrina, Zona de Desastre del Huracán Katrina Huracán Rita, Zona de Desastre del Huracán Rita (Zona de Desastre de Rita con Cobertura) Huracán Wilma, Zona de Desastre del Huracán Wilma Zona de Oportunidad del Golfo (GO), Zona de Oportunidad del Golfo (GO) (Zona Central del Desastre) Zona GO de Rita, Zona GO de Rita Zona GO de Wilma, Zona GO de Wilma Anterior  Subir     Inicio   More Online Publications