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Apr 9, 2025The profit or loss from self-employment is the difference between your revenue and costs. When your self-employment income exceeds your expenses, you profit. Conversely, when self-employment expenses exceed income, there is a loss. Self-employed individuals pay self-employment tax. The SE tax is a Social Security and Medicare tax. What is self-employment? Self-employment entails running a […]
adminApr 7, 2025Earned Income is any revenue you obtain from a job or personal services. It is the money you make while completing responsibilities or labor. The IRS defines earned income as wages, salaries, tips, and other kinds of compensation received in exchange for labor. Earned income consists of several major components, including: Earned income also includes […]
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