Self Employment Tax Lawyers in Battle Creek
In Battle Creek, Michigan, some taxes are imposed on employees, and deducted from their paychecks. Most people are aware of the Medicare and Social Security taxes - which fund those two programs by taking a small percentage of every paycheck an employee receives.
It's imperativel 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 precisely 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 typically very simple, and any decent payroll software can automate this process. But the self-employed are liable for figuring this out for themselves, or hiring an accountant to do it.
Self-Employment tax obligations in Battle Creek, Michigan
If you are an independent contractor, or run a sole proprietorship (a company which you own, and which is not incorporated as a separate legal entity), you must pay the so-called "self-employment tax" if your income from self-employment is higher than per year.
Workers who are employed by someone else enjoy at least one perk that the self-employed do not: their employer matches their Social Security and Medicare contributions, essentially doubling the amount of money that's contributed to these funds on the employee's behalf.
However, the self-employed in Battle Creek, Michigan are responsible for making the employer AND employee contributions to those programs, essentially doubling what they would have to pay if they were employed by someone else.
Self-employed workers in Battle Creek, Michigan pay a self-employment tax rate of 15.3% of their income that's derived from self-employment. However, half of whatever they end up paying in self-employment tax is deductible from income tax. This essentially creates a tax deduction of nearly 8% of one's income, requiring you to only pay taxes on 92% of what you earn. Additional tax deductions may lower that number further. When this deduction is taken into account, the self-employment tax rate is effectively 14%, as opposed to over 15%.
Can a Battle Creek, Michigan Tax Attorney Help?
If you are self-employed in Battle Creek, it's imperative that you keep good records of your income and expenses, because a tax attorney will only be able to advise you to the extent that you help yourself.
Anyone having difficulty with figuring out what they owe in self-employment taxes in Battle Creek, Michigan should seek the assistance of a knowledgeable tax attorney. Most tax attorneys also have a good familiarity of accounting, so making this determination probably won't be too hard for them. And on top of that, a skilled tax attorney can give you objective and useful legal advice, which can help prevent more serious issues from rising in the future.
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.