Self Employment Tax Lawyers in Dunwoody
In Dunwoody, Georgia, there are certain taxes that are enforced on employees, which are deducted from their paychecks. The mostly 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 essentiall 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 exactly 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 usually very simple, and any decent payroll software can automate this process. But the self-employed are responsible for figuring this out for themselves, or hiring an accountant to do it.
Self-Employment tax obligations in Dunwoody, Georgia
If you work as an independent contractor, or operate a sole proprietorship, you are deemed to be "self employed." You are obligated to pay the self-employment tax if your total income from self-employment exceeds per year.
People who are not self-employed, and work for another person or company, have their contributions to Medicare and Social Security matched by their employers. This means that these programs are obtaining, on your behalf, twice as much money as what's deducted for your paycheck, with your employer covering the other half.
But, the self-employed in Dunwoody, Georgia are responsible for making the employer AND employee contributions to those programs, effectively doubling what they would have to pay if they were employed by someone else.
The self-employment tax rate is 15.3% of all self-employment income, assuming your income from self-employment exceeds per year in Dunwoody, Georgia. But half of your self-employment tax liability can be deducted from your income tax. This results in a slightly reduced income tax bill, which partially offsets this additional tax burden. It essentially means that the self-employment tax only applies to 92% of your income, as opposed to all of it. This means that your effective self-employment tax rate is about 14%, as opposed to over 15%.
Can a Dunwoody, Georgia Tax Attorney Help?
If you are self-employed in Dunwoody, it's extremely important for you to be diligent in keeping records of your income and expenses, to ensure that you pay all the self-employment taxes that you owe (and also to make sure you don't over-pay). You may one day need a tax attorney to help you with a legal issue, and they can help you far more efficiently if you are able to quickly present them with all the relevant information.
Anyone having difficulty with figuring out what they owe in self-employment taxes in Dunwoody, Georgia should seek the advice of a reputable tax attorney. Most tax attorneys also have a good knowledge of accounting, so making this determination probably won't be too hard for them. And on top of that, a competent tax attorney can give you objective and useful legal advice, which can help prevent more significant issues from arising in the future.
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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.