When you’re planning your retirement, you have look at all of your income streams during retirement and the living expenses you’ll be expecting. You should also be checking on the taxes you’re expected to pay, specifically taxes on your Social Security income. 258 more words
Tags » Social Security Tax
You may have heard of self-employment tax and wondered if, and when, it might apply to you.
The self-employment tax isn’t complicated: it’s a tax that is a combination of Social Security and Medicare taxes. 351 more words
Real Talk Series: I’m Planning on Retiring This Year. What Should I do to Prepare for Next Tax Season?
Congratulations on your decision to retire this year! I’m sure you have worked hard and deserve to enjoy this new chapter in your life.
I’m so glad you asked this question, because whether you decide to travel, relax, or consult on the side in your retirement, there are a few things you need to consider as you prepare for next tax season: 657 more words
Being self-employed means lots of freedoms: you can set your own hours, choose your own projects and be your own boss. But with self-employment comes taking on many responsibilities that many employers cover, like buying your own insurance, setting up a retirement account, and setting aside money for taxes. 393 more words