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Taxes on self employement how do i figure my taxes i drive a truck and need to know how to figure out how to figure the tax each week

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First you have to determine your net income. Net income is your business income less your business expenses. Self employment tax is 15.3% of your net income. As a rule of sum is to consider that 20% of your business income is your personal contribution to Uncle Sam. The determined estimated tax must be paid quaterly.

Posted on Aug 11, 2010

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