Help For The Self-Employed
(NAPSI)—Whether you run a part-time business, do freelance work, or own your own business, you’re in good company. About 16 million adults in America work for themselves, and nearly half that number are baby boomers.
Even though self-employment comes in many forms, with a wide range of specific needs, some of the challenges are universal—including taxes. If you’re new to the self-employment journey, you’ll need to be prepared for some financial adjustments.
Avoiding Surprises at Tax Time
Older adults who have spent most of their careers benefiting from the services of a human resources department are often caught off guard by the tax requirements for self-employment.
Instead of the familiar W-2 from a single full-time job, self-employed adults may find themselves juggling multiple 1099s, wrestling with the time-consuming work of tracking expenses learning how to plan, save and submit quarterly tax payments.
If you work for yourself, you may need a resource that can help you handle multiple self-employment tax requirements. AARP Foundation Self-Saver is an online tax-tracking resource that allows you to connect your bank account and automate your self-employment tax withholding and payments.
As user Connie Johnson explained, “I’m an AARP member and I just happened onto Self-Saver. I felt like a miracle had happened. I had no idea I had to pay self-employment tax because as a contractor you’re considered self-employed, so that was a little bit of a shock. I feel peace of mind knowing that has been taken care of.”
AARP Foundation Self-Saver
Self-Saver saves you time and money with a set of tools that make tax time simpler, automated and less of a surprise.
By syncing to your bank account, Self-Saver informs you automatically about self-employment income received and expenses paid. The program provides an estimated tax rate based on factors that adjust as your income and other statuses change.
Self-Saver also gives you the option to automate your tax withholding, storing the right amount in an FDIC-insured bank. At the end of the quarter, Self-Saver submits your quarterly tax payments to the IRS automatically.
Learn More
For additional self-employment education or to sign up for a FREE account, go to Self-Saver.org. Sign up before 04/15/2020 and Self-Saver will always be free!
On the Net:North American Precis Syndicate, Inc.(NAPSI)
Get Top Stories Delivered Weekly
Recent thenewsargus News Articles
Discuss This Article
MOST POPULAR THENEWSARGUS
WSSU Rams Head Football Coach Relieved of His Duties By Elijah Richardson
Bennett College Loses Accreditation Despite Raising Sufficient Funds By Elijah Richardson
Smollett Investigation Continues To Be Unsolved and Difficult to Resolve By Elijah Richardson
Lady Rams look to reverse an abysmal 2014-2015 season By Demetrius Dillard
GET TOP STORIES DELIVERED WEEKLY
LATEST THENEWSARGUS
- Black Business
- WSSU Rams Head Football Coach Relieved of His Duties
- Controversial Wake Forest Tweet Sparks Outrage
- Bennett College Loses Accreditation Despite Raising Sufficient Funds
- Smollett Investigation Continues To Be Unsolved and Difficult to Resolve
- UREC Looks To Continue and Improve Student Engagement Through Physical...
- University Recreation To Hold Personal Training Pilot Study
FOLLOW OUR NEWSPAPER
RECENT THENEWSARGUS CLASSIFIEDS
OUTSIDE THE LINES
- A Story To Sing About
- The Gap in Gum Care: Why Caring For Your Teeth’s F...
- Top Tips for Signature Scents and Better-Smelling Laundry
- A Dog Trainer’s Top Tips to Support Pets Through Life S...
- Clear the Air of Indoor Pollutants This Spring
- Stroke & Dementia in Black Men: Tips for Staying Healthy...
- Hispanics and African Americans at Higher Risk for Eye...
- African Americans at Higher Risk for Eye Disease
- Infinity Kings: Final Book In A Favorite Fantasy Series
- What You Need To Know About Keratoconus and the iLink...
FROM AROUND THE WEB
- Don’t Let Diabetes Shortchange Your Golden Years
- No Child is Forgotten By Marine Toys for Tots
- Sweeten Your Springtime Salads With Healthy Chilean Grapes
- Young Author Translates 4,000-Year-Old Text to Reveal...
- Keeping Cool and Energy-efficient Amid America’s “...
- Addressing Sarcopenia with a Healthy Diet
- Subway’s New Wraps Elevate Eating on the Go
- Family Teacher Conference Topics Beyond Academics
- Youth Take Down Tobacco
- BookTrib’s Bites: Four Reads to Kickoff Spring