Self Employment Tax in Bethel Park, Pennsylvania

Find the right Self Employment Tax attorney in Bethel Park, PA

Self Employment Tax Lawyers in Bethel Park

In the U.S., including in Bethel Park, Pennsylvania, taxes are enforced on employees, which are usually deducted from their paychecks. The ones that most people are acquainted with are the Medicare and Social Security taxes. The idea is that workers pay into these programs during their entire working lives, and then enjoy the benefits they provide once they retire.

Individuals who are self-employed are still liable for these taxes, and are responsible for figuring out how much they 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 Bethel Park, Pennsylvania

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 greater than 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, if you're self employed in Bethel Park, Pennsylvania, or anywhere else, you are required to make the employee AND employer contributions to Social Security and Medicare, effectively doubling your employment tax liability.

The self-employment tax rate is 15.3% of all self-employment income, assuming your income from self-employment exceeds per year in Bethel Park, Pennsylvania. 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 Bethel Park, Pennsylvania Tax Attorney Help?

If you're self-employed in Bethel Park, you need to keep thorough records of all your income and expenses from the operation of your business. This will make it much easier for you to calculate your taxes when they come due, and it will make it simpler for a tax attorney to give you good, useful advice, should you eventually need it.

That said, if you are encountering trouble figuring out exactly how much self-employment tax you owe in Bethel Park, Pennsylvania, a competent tax attorney shouldn't have any trouble helping you on that front. Likewise, if you end up in a dispute with the government over your self-employment tax requirement, a good tax attorney can give you the best possible chance of getting a favorable result.

Talk to a Tax Law Attorney now!

Life in Bethel Park

Bethel Park, population 33,000, is located in Allegheny County in Pennsylvania. Though recently incorporated in 1949, its existence as a settlement dates back to the early 1800's. In 1978 Bethel Park residents instituted a Home Rule form of Government. This provides the municipality and Council with greater governance powers than a traditional municipal scheme.

Bethel Park is quaintly situated in the southern hills of the Pittsburgh area. It is located about 8 miles south of Pittsburgh. The city's recreation department currently hosts several activities such as Summer Fun Day and local flea markets. The city also has a Farmer's Market which is open every Tuesday. Recreational activities such as swimming classes, tennis instruction, and aquatic programs are held throughout the city's recreation centers. Some of these centers include the Community Center, Village Green Park, Simmons Park, and Millennium Park.

Other points of interest in Bethel Park include the South Park Wave Pool, South Park Hundred Acres Manor, South Hills Village, and Blade Runners. Pittsburgh's first drive-in theater was also located in Bethel Park. The theater has recently been replaced with several retail shops and restaurants.

Lawyers in Bethel Park, Pennsylvania often file their cases in the Bethel Park District Court located in the town's Municipal Building. Bethel Park lawyers specialize in a wide variety of legal matters and issues.

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