Business Taxes for the Self-Employed: The Basics

Surviving-a-business-tax-audit

Posted by the Internal Revenue Service

FS-2015-22, August 2015

For anyone starting a small business, especially those who are self-employed, the Internal Revenue Service offers some basic information on filing, reporting and paying taxes.

Generally, one is self-employed if they:

  • Carry on a trade or business as a sole proprietor or independent contractor, or are otherwise in business as an individual, including a part-time business
  • Own an unincorporated business

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