Question about RTO Ho Herpa Freightliner Truck Tractor

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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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Needing w2 for taxes need help please


Hello, Iia -

Your employer / employers in 2017 are responsible for supplying your W2 forms showing your earnings and deducted taxes for 2017.

Some employers provide W2s on their company websites, requiring current and former employees to sign in, giving their Social Security numbers and / or employee numbers.

See information from the U.S. Internal Revenue Service about W-2 forms here:
https://www.irs.gov/site-index-search?search=W2&field_pup_historical_1=1&field_pup_historical=1

You will need to contact your employer / employers for whom you worked in 2017.

Note: If you worked as a contractor, you will need to obtain a 1099-MISC form from the individuals or companies for which you worked as a contractor in 2017.

See information from the IRS about 1099-MISC forms here:
https://www.irs.gov/forms-pubs/about-form-1099-misc-miscellaneous-income

I am a librarian by profession and have answered questions like yours for years.

Note: For many questions you may have regarding your Federal income taxes, you can find informative publications through the IRS website:
https://www.irs.gov
or in documents you can photocopy at your local public library.

If you find you need more help and explanations than what you can determine from the IRS documents, you will need to seek advice from a person who is a professional in income tax preparation. Note: Any of the librarians at your local public library will only direct you to sources of information, but will not help you with your income tax preparation. They will advise you to seek professional income tax preparation help.

Some people may be eligible for free tax return preparation. See the information here:
https://www.irs.gov/individuals/free-tax-return-preparation-for-you-by-volunteers

Best wishes.

Jan 26, 2018 | Heating & Cooling

5 Answers

Gift cards given by employers to employees will be taxed in the new tax bill


so let them be taxed. who really cares. they are just fixing a loophole. so pay the tax and be done with it.

Dec 04, 2017 | Miscellaneous

1 Answer

How to claim tax relief on PRSA Contributions?


PRSA is beneficiary to both an employee and a self employed individual.Most requirement for the tax relief claiming is that the annual income should be taxable under the income tax laws.For a self employed people they have to add their contributions to the self assessment tax return.Check out http://manning-financial.ie/ , the leading financial advisor in Ireland for a piece of advice regarding life cover,savings,investments,retirement planning & more.

Dec 24, 2015 | Office Equipment & Supplies

2 Answers

Can I Employ My Kids Or Relatives And Get A Tax Deduction?


risky business
to get the tax deduction , they have to be on the employment register and pay tax on the earnings
if they are under legal employable age , that sets you up for criminal action for employing under age person/s because they have to be on the register to get the tax deduction
really if you are thinking this, don't go into business as you are not going to successful because your business ethics will reflect in your dealings with your customers
it really is that simple

Dec 09, 2015 | Retail Supplies

1 Answer

Are Partners Considered Employees Of The Partnership Or Could They Be Self-Employed?


Partners are regarded as self-employed. If you're a person in a partnership that continues a trade or business, your distributive share of their earnings or loss from that trade or clients are internet earnings from self-employment. Limited partners are susceptible to self-employment tax only on guaranteed obligations, for example salary and professional costs for services made.

Aug 07, 2015 | The Computers & Internet

4 Answers

What Is A Tax Credit Or Tax Refund?


Tax credit or tax refund refers to the amount returned by finance department, If you have paid excess tax or received too large bill for that. It also includes the expenses done on work's cloth and transportation cost to employee.
If you are self employed, you will need to have your UTR Number to hand when completing a self-assessment tax return. HMRC use this number to identify you as a self-assessment tax return.

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Jul 02, 2015 | Retail Supplies

3 Answers

What is payroll tax?


Payroll tax is the money that goes to the state and or federal government directly from your salary. There are two basic kinds of payroll tax. The first is the kind that your employer pays on your behalf and the second is the money that you pay out of your salary. These amounts are always based on your salary and they are related to each other. For example if you make 10 dollars per hour and your coworker makes 20 dollars per hour, the amount of payroll tax they and your employer pays for your coworkers is twice that of yours.

Aug 19, 2013 | Finance

2 Answers

How many hours is part time before paying tax


When your total wages exceed the minimum Earnings, you will have to pay. Typically, you pay each paycheck and then file tax returns for excess contributions for a Refund.

Browser search 2012 Federal Tax Withholding info. I want to say its like $600 total annual but I easily can be wrong. Just know that the Paperboy pays income taxes.

Most of the time, employers deduct and your special status, (student, dependent,etc.) is up to you at end of year.

Don't forget FICA, Medicare type tax, State Tax, etc.

Please rate my info.

Nov 13, 2012 | Cars & Trucks

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