We offer an all-in-one tax service bundle to save money for the self-employed.
Self-Employment Tax Optimization
A comprehensive financial package is designed to save you thousands of dollars every year, legally and ethically.
Reduce your taxes
Right business structure, legit tax deductions and more saving for retirement accounts.
Manage your money
Estimate your taxes and manage your money with accurate bookkeeping.
Enjoy peace of mind
Stress free tax season by having your taxes filed accurately and on time.
Calculate your 2023 Self-employment tax
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Choose the perfect business structure
As a self-employed individual, you may save a lot on taxes with S-Corp. We manage your S-Corp, and you save money.
Estimated tax payment management
Pay the right amount of quarterly estimated tax payment to avoid additional interest and penalties. We handle your federal and state payments.
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Amplify your tax deductions
Qualify for more tax deductions with the S-Corp business structure.
Deduct your health insurance
Take home office deduction
Maximize your auto expense
Deduct your state tax payment
Tax-free rent money
Invest in retirement funds
And many more…
Affordable Pricing
Simplified and clear pricing
Why work with NumberSquad?
An all-inclusive financial solution to reduce your taxes. You focus on what you do best, and we’ll take care of all the details.
Expert Team
Your dedicated team of tax experts, bookkeeping professionals, and payroll specialists will handle every aspect of the work. We are open year-round.
Customized Software
You can manage your finances easily and safely through our web and mobile application, DocuPort. Get organized and save time, effort, and labor.
Responsive service
Meet your dedicated account manager at NumberSquad—no need to waste time trying to reach different service providers. Get answers fast when you need them.
Your Tax-Saving Solution
Self-employed tax services that may reduce your taxes over 10K.
Solopreneur
A solopreneur is a self-employed entrepreneur who operates alone. They handle all aspects of their business. They enjoy independence but face challenges in managing time, resources, and finances.
Micro business
A micro business is a small business with few employees and low revenue. One person or a small team may run it. Micro businesses have tax challenges due to limited resources and complex regulations.
Freelancer
A freelancer offers services on a project basis to multiple clients. They work remotely and manage their own schedules, invoicing, and taxes. Freelancers specialize in specific skills or industries.
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Frequently Asked Questions About Self Employment Tax
What is self employment tax?
As a self-employed individual, you pay Self-employment tax, calculated based on your profit from any business you own or operate alone. The current rate is 15.3% of your net earnings, with 12.4% for Social Security and 2.9% for Medicare. You have to pay quarterly estimated tax to avoid penalties and interest charges.
How is self employment tax calculated ?
Self-employment tax is calculated by multiplying your net earnings from self-employment by the current rate of 15.3%. Remember, you can deduct half of this amount on your tax return. Keep in mind that self-employment tax is separate from income tax, so budget accordingly.
What is self employed quarterly tax?
As a self-employed person, remember to pay taxes every quarter on your income. Estimate your earnings, pay a portion of taxes to the IRS every three months, and use the IRS form for this purpose. Tax professionals can assist you. Stay prepared and fulfill your quarterly tax obligations.
Due dates for 2023 self-employed quarterly tax
1st self employed quarterly tax payment: April 18, 2023
2nd self employed quarterly tax payment: June 15, 2023
3rd self employed quarterly tax payment: September 15, 2023
4th self employed quarterly tax payment: January 16, 2024
You can make your payment through the IRS website at https://www.irs.gov/payments
The IRS form for self-employed quarterly tax is 1040-ES
Self employment tax calculator 2023
To calculate your self-employment tax for 2023, you’ll need to gather your total self-employment income for the year and subtract any allowable deductions. Once you have your net self-employment income, multiply it by the self-employment tax rate, which is currently 15.3%. This will be your total self-employment tax liability for the year.
For example, if you made $100,000 after deducting all your expenses, your self-employment tax is $15,300 ($100,000 X 15.3%)
