Self-employment tax: What it is, how to calculate it
If you work for yourself, you’ll likely have to pay self-employment taxes in addition to income taxes. Here’s how it works.
4 min read
Jan 23, 2025
Anna-Louise Jackson
Anna-Louise Jackson is a contributor to Bankrate, covering taxes and personal finance. Jackson's career began about 15 years ago at Bloomberg, where she covered financial markets and the economy. She's since written about personal finance topics for CNBC, The Associated Press, The Wall Street Journal, Time, Money, NerdWallet. Her reporting has also been published by Bloomberg Businessweek, Fast Company and Success. Jackson enjoys making complex topics more understandable for readers.
Anna-Louise's latest articles
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File taxes online: Tools, tips, deadlines and more
Here are four tools you can use to file your taxes online, plus tips, deadlines to remember and more.
6 min read Jan 19, 2025 -
Standard deduction vs. itemized deduction: Pros and cons, and how to decide
You have to do some math to choose between claiming the standard deduction and itemizing, but it’s worth it.
4 min read Jan 11, 2025 -
Marginal tax rate: What it is and how to find yours
The marginal tax rate is the highest income tax rate you’ll pay on your income. Because the U.S. has a progressive tax system, different tiers of your income are taxed at different rates. The marginal [...]
5 min read Dec 18, 2024 -
What is adjusted gross income (AGI), and why does it matter?
Your adjusted gross income, or AGI, is your gross income minus a handful of above-the-line deductions.
3 min read Dec 17, 2024 -
State and local tax (SALT) deduction: What it is and how it works
The SALT deduction lets taxpayers deduct the money they spend on state and local taxes.
3 min read Dec 12, 2024 -
Gross vs. net income: What you need to know to manage your finances
Knowing the difference between gross and net income can help you better manage your financial situation.
3 min read Nov 29, 2024 -
Short-term capital gains tax rates, and how to reduce your taxes
Paying attention to short-term capital gains tax rates can help you save money in the long run.
3 min read Nov 27, 2024