What SELF-EMPLOYED INDIVIDUALS means: Taxpayers who work for themselves. They decide when, how, and where to work, obtain their own jobs or sales, pay their own expenses, and receive social security and Medicare coverage through payment of self-employment tax.
- Definition Social Security Tips:
- Dictionary The amount of tips reported to an employer by an employee that is subject to this tax. Tips are also subject to Medicare tax self-employed individuals.
- Definition Schedules:
- Dictionary Official IRS forms used to report various types of income, deductions, and/or credits self-employed individuals.
- Definition S Corporations:
- Dictionary business corporation that generally pays no tax. Instead, shareholders of an S corporation report their share of the corporation's income, gain, losses, and credits on their individual returns self-employed individuals.
- Definition Standard Deduction:
- Dictionary by the tax law in lieu of itemized deductions. A taxpayer whose gross income is not more than the sum of the standard deduction and exemptions generally does not have to pay tax. See our Standard self-employed individuals.
How works Self-Employed Individuals meaning in Tah definition S .