Self Employment Tax in Atlanta, Georgia

Find the right Self Employment Tax attorney in Atlanta, GA

Self Employment Tax Lawyers in Atlanta

In Atlanta, Georgia, there are particular taxes that are enforced on employees, which are deducted from their paychecks. The generally well-known employment taxes are the Medicare and Social Security tax, for which a small percentage of every employee's paycheck is deducted.

It's necessaryl to be aware of one fact: if you're self-employed, you still have to pay these taxes. And it's your responsibility (or the responsibility of someone you hire for this purpose) to figure out clearly how much you owe.

In most cases, employers make all the necessary calculations to determine how much needs to be deducted from an employee's check to pay these taxes. It's normally very simple, and any decent payroll software can automate this process. But the self-employed are accountable for figuring this out for themselves, or hiring an accountant to do it.

Self-Employment tax obligations in Atlanta, Georgia

If you work as an independent contractor, or operate a sole proprietorship, you are deemed to be "self employed." You are required to pay the self-employment tax if your total income from self-employment exceeds per year.

For people who are employed by another person or company, the employer normally matches the employee's contributions to Medicare and Social Security. This basically means that, when you look at your Medicare and Social Security tax statements on your paychecks, you can know that those programs are actually getting double what's shown there - with your employer covering the other half.

But, if you're self employed in Atlanta, Georgia, or anywhere else, you are obligated to make the employee AND employer contributions to Social Security and Medicare, basically doubling your employment tax liability.

Currently, the self-employment tax rate in the United States is 15.30% of all income earned from self-employment in Atlanta, Georgia. Nonetheless, half of your hypothetical self-employment tax liability can be deducted from your income. This means that you only pay self-employment tax on about 92% of your income, which creates an effective self-employment tax rate of just over 14%.

Can a Atlanta, Georgia Tax Attorney Help?

Self-employed individuals in Atlanta must ensure that they keep good, complete financial records. This makes it much easier to determine what you owe, and, if you need a tax attorney, it makes it easier for them to assist you with your legal tax contentions.

If you have any difficulty calculating your self-employment tax liability, an accomplished Atlanta, Georgia tax attorney would likely have very little trouble assisting you figure it out. A seasoned lawyer can also give you practical legal advice, which can help you avoid more significant tax law issues in the future, by dealing with them before they become problematic.

Talk to a Tax Law Attorney now!

Life in Atlanta

Atlanta has the highest population of any city in the State of Georgia with just under 500,000 people. The Hartsfield Jackson Atlanta International Airport as been the world's busiest airport since 1998. That's two years after the city hosted the 100th Olympic Games. Atlanta is the seat of Fulton County government as well as for the entire State of Georgia. Atlantans work for some of the most well known companies who have world headquarters located in the city. The Coca-Cola Company, ATT, UPS, Turner Broadcasting, The Home Depot, and UPS are just a few of the nearly 75% of Fortune's 1000 who have operations in Atlanta. All that industry grosses the city over billion each year. All of the productivity doesn't mean it comes at a lack of greenery.

Atlanta is known both as the "City of Trees" and the "City in a Forest" for the dense tree cover that blankets nearly 40% of downtown. It's the most dense tree cover of any American city. The Atlanta Botanical Garden even offers a Canopy Walk through 600 feet of canopy at 40-feet into the trees. Other city attractions include the Georgia Aquarium, Fox Theatre, Atlanta Contemporary Art Center, Museum of Contemporary Art of Georgia, World of Coca-Cola, Delta Heritage Museum, Carter Center and Presidential Library, and Atlanta sports teams draw patrons from across the globe.

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