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Taxes vary by countries, regions, and states; what you pay in the US might not be what you pay in the UK. As a freelancer, there is undoubtedly a tax obligation on the ground, but how you pay it is different from how a full-time employee handles it. It would be best if you know the tax rate for the region you are and pay accordingly. Paying taxes involves diligence, it is an obligation, and so, you might need help or probably a reminder to keep you in check.

If you are an employee in a firm, both you and the firm pay the Florida self-employment tax, which is the Medicare and Social Security taxes on your wages. These amounts reflect on your W-2 forms and are deducted from your paycheck or salary. As a freelancer, after your income tax, you still have the self-employment tax to battle with yourself.

Florida Self Employment Tax Calculator
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An employer considers you as a freelancer or independent contractor by issuing you a Florida self-employment tax form. Freelancers fill the form 1099-Misc instead of a W-2 for full-time staff. Hence, freelancers receive their full payment for projects without tax deduction since they are responsible for their taxes.

The answers to the following questions will determine if you have self-employment tax obligations or not.

  • Do you bring your equipment and tools to do the job?
  • Do you receive your full pay for a contract?
  • Who controls the job site? You or your employer.
  • Do you work at your hours?

A “yes” to the above questions shows that you are a freelancer or independent consultant; hence, you have Florida self employment tax obligation. What freelancing borders on is the way you perform your job and how much control you have over it. If flexibility is so high, then it is most likely that you are considered as an independent contractor in that firm.

Florida self employment tax responsibilities for a freelancer

  • You must file a federal income tax if you earn at least $400 as your income; it must be done quarterly if your tax return is estimated to be at least $1,000. This rule applies to you even if you are not authorized to work in the US yet. It helps you to avoid paying a substantial amount as tax at once towards the end of the year.
  • You can avoid making the estimated payment if you have other jobs that your Florida self employment tax can be deducted from. The form 1040-ES can help you figure out the estimated quarterly payments if your tax is at least $1,000.
  • You must have an iTIN or a social security number to make estimated payments. If you are ineligible for a social security number, then there is a need to complete the IRS Form W-7 to request your iTIN and have it attached to your federal income tax returns.
Florida Self Employment Tax Form
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Records you should keep for Florida self employment tax

If you plan to file your Florida self employment tax yourself, there is a need to be diligent at keeping your income and expenses. This is especially important if you are paid in cash. As a freelancer, keeping track of all payments received for work is essential. You might need a notebook to help you to be effective in that. Anytime you are paid, write down the following:

  • The amount paid
  • The date of payment
  • A brief description of the work done,
  • The payer.

If the cash is always deposited into your bank account, make sure you keep all your bank statements and electronic receipts. This will help you file for your Florida self employment tax accurately. You also need to save your receipts for supplies or items used to complete the work. Some of these items can later be deducted from your taxable income when you file for them. Good record keeping will help you escape being exploited by employers and even save you from the IRS audit.

Read on more about self employment income tax and self employment tax Texas.



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