Self Employment Tax Lawyers in Oakland
In Oakland, California, there are particular taxes that are placed 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 Oakland, 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 per year.
Employees in a regular employer/employee relationship do enjoy one considerable perk that the self-employed do not: their Social Security and Medicare contributions are matched by their employers. So, if you pay in Social Security and Medicare taxes with every paycheck, your employer has to match that. This basically doubles your contribution to these programs, without doubling their financial burden on you.
But, self-employed workers in Oakland, California must make both the employee and employer contributions. Therefore, this means that the Medicare and Social Security tax liabilities apply doubly to the self-employed.
The total self-employment tax (note that this is completely distinct from the income tax) is set at 15.3%, if your income from self-employment in Oakland, California exceeds . However, half of this tax is deducted from your income, for income tax purposes. Therefore, this means that, at most, the self-employed only have to pay income on 92% of their total income, and that amount may be lowered with additional deductions for which you may be eligible. This means that, basically, the self-employment tax rate is only 14%, as opposed to 15.3%
Can a Oakland, California Tax Attorney Help?
If you are self-employed in Oakland, it's necessary that you keep good records of your income and expenses, because a tax attorney will only be able to assist you to the extent that you help yourself.
If you have any difficulty calculating your self-employment tax liability, an accomplished Oakland, 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 severe tax law issues in the future, by dealing with them before they become problematic.
There is none better than Joel. He is intelligent and sensitive when it comes to highly personal matters. Let him fight your battle!
He is the kind of lawyer who would sit down and explain things on how things works in legal matter but he is still fighting for me hard and he is very patient and very understanding with me being deaf and we have not got the results yet but he is trying very hard during week and weekends on getting results real fast and he don't take no bull from other companies and I would advice people to use him as your lawyer
Joel is very professional and I would recommend him for anyone.
This lawyer shows real commentment to his cases
This guy is awesome. The best of the best.
Mr. C. has been responsive, he's explained everything clearly and has asked questions that I had not thought of. He's not like the typical laywer profile - he's courteous and very patient with me. I would easily recommend him. I'm going to assume his service is a good value for my money although we're not at that stage yet.
Mr.C. is a excellent lawyer he always kept us well informed on the case, I am very satisfied with the work that he has done and I am sure that anyother person who were to hire him will be too. Also he took the time and patience to talk to me personally after all the work he had. I would strongly recommend him. Very very good.
I had a great experience with this lawyer. I highly recommend him to anyone. Emails and phone calls were returned promptly. My questions were answered with a clear understanding. If he did not know the answer he would research it and get back to me quickly. I believe he worked very hard to gather the information we needed for the case. If i ever need another lawyer in the future, i will definitely hire him again.
Joel kept in constant contact with me. I really liked that about him. Most lawyers dont even talk to you, they have their secretary take a message. Joel did not once do that. Joel believed in me and my case. I would recommend him to anyone and use him again if I ever have to do this again. He cares about the situation and had my best interest at heart.
Joel had excellent response time, he spent time with me on the telephone discussing possibility's of my case. I highly recommend Joel, he was very easy to talk to and spoke to me in layman's terms so I could understand what was going on, he sent me numerous e-mails in regards to my case. He was willing to go the extra mile for me and that was something very special.
He was great and very easy to work with. I would definately use and/or refer him again.
I was very pleased with the Mr. C.'s response. As much as I deeply appreciated the time he took in looking over the information, I decided it was best not to pursue the issue. He was very kind and I will most defintely keep his name should I ever need assistance in the future.