Self Employment Tax in Maywood, California

Find the Right Lawyer Now

In Maywood, California, there are particular taxes that are imposed 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 extremely important to know that, if you are self-employed, you still have to pay those taxes, and it's also up to you to figure out clearly how much you owe, to ensure that you don't pay more or less than you are obligated to.

Normally, it's the employer who makes all these calculations, and the employee doesn't have to think about it. Most larger employers have payroll departments to take these matters, making it pretty simple for them. But, if you are self-employed, it's up to you to accurately determine what you have to pay in self-employment taxes

Self-Employment tax obligations in Maywood, California

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 $400 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.

However, if you're self employed in Maywood, California, 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 Maywood, California. However, 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%.

Find a Maywood Lawyer that Specializes in Your Area of Need:

Can a Maywood, California Tax Attorney Help?

Self-employed individuals in Maywood 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 Maywood, California tax attorney would probably have very little trouble helping you figure it out. A brilliant lawyer can also give you practical legal advice, which can help you avoid more serious tax law issues in the future, by dealing with them before they become problematic.

1 Tax Law cases posted to LegalMatch lawyers in Maywood

Self-Employment Tax Attorneys in the Largest CA Cities

Show California Cities

Self-Employment Tax Lawyers in Other California Cities and Towns


Find the Right Lawyer Now

Top Rated Lawyers

View attorney profiles and see how other LegalMatch users rate attorneys that may respond to your case.

Family Law Lawyer
LegalMatch Family Law Lawyer David B.

David B.

Salem, VA

Family Law

Rating (1 users) ***
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Pamela D.

Pamela D.

Marion, IN

Family Law

Rating (1 users) *****
See Reviews
Criminal Law Lawyer
LegalMatch Criminal Law Lawyer Timothy M.

Timothy M.

Dekalb, GA

Criminal Law

Rating (2 users) *****
See Reviews
Family Law Lawyer
LegalMatch Family Law Lawyer Jack P.

Jack P.

Martin, FL

Family Law

Rating (1 users) *****
See Reviews

Need a Lawyer?

No obligation - Lawyers compete for your case. Choose your issue & get started now: