When do I need to register for self employed tax?
456195
You need to register as self employed with the Inland Revenue (HMRC) within the first three months of becoming self employed, or you can be fined.  Go to the HMRC website (listed in the sources below) for more info, or call 0845 9154515, which is the helpline for the newly self-employed. You can register by calling that number.\n\nHope it helps!
1165916
Just under 50%.\n\nGood guide is to look up info on 'tax freedom day'.  In 2006 every penny you earn from 1 January until 3 June goes to pay your tax.  Only the rest is yours to keep (based on all taxes and 'average' UK taxpayer).\n\nSee http://www.adamsmith.org/tax/
776465
You are not required to form a business to register a domain. If a registrar tells you otherwise, then go to another registrar.\n\nOn the other hand, if you're going to be doing freelance, you may want to consider forming a business for tax reasons, but that has nothing to do with registering a domain.
202584
None. If you are an independent contractor, you should provide the contract for the other party to sign if they want your services. This contract should stipulate what services are being provided and the schedule of payment to you. When February rolls around the next year, the other party provides you with a 1099 form as a statement of what you were paid so that you can report the earnings to your accountant. If the amount of money was less than $500, then the other party does not have to provide a 1099. As an independent contractor, you are responsible for your expenses, which are a business deduction. Keep records diligently!
820563
Don't worry, if you pay excess tax just visit your tax office- or try visiting www.gov.uk and find an online form. Just tell them you have been paying too much tax- the time limit is about 4 years so 5 months is not a problem.\n\nYou will be able to have your no tax and basic tax allowances recognised- once that happens your tax will be recalculated (spreading these allowances over the rest of the tax year) and will much lower for the rest of the year.
77683
www.nase.com \n\nThe National Assoication for the Self Employed.\nIts a great company and can help u alot. Good Luck to you.
729962
You will get it in January. That's when all tax forms are mailed out - 1099, W2, etc. You usually get them at the end of January.
964195
Ask them for name and address. Since you will be paying them as part of your business, then they are your employees and they need to fill out a W-4 Form.  \n\nIf you are paying customers for services rendered then they are Independent contractors, and you will need to send them Form 1099 at the end of the year.
1028776
It all depends on how you formed your business.\n\nIf it is something you did yourself, as a sole proprietor, and you are the only one working with the business then you really don't need to do anything further than reporting the income and expenses on your schedule C.\n\nIf you had formed a legal partnership or corporation you will need to file the appropriate tax form each year.\n\nAND if you have anyone else working for you, especially non-family, you need to get yourself a FEIN (Federal Employer Identification Number), withhold payroll and income taxes, register with the state and pay both levels of unemployment (depending on the state).  If you have reached this level of complexity, I would contact a CPA or other bookkeeping firm that can get you on track.\n\nLike to self read?  There is plenty of information at the IRS website.  :)  Good luck!!
807432
First off congratulates and best of luck on your new self employment.\n\nFigure out how much you need to pay your self. i would at first figure out as low as you can go. the reason for this is it is better to have to make a small cake with a lot of icing verse a large cake with a thin layer of icing.\n\nA good rule of thumb is 25% of what you take home. It would be best to put your self on a salary and include taxes in your cost of labor.\nHear are some number a subcontractor of mine uses. labor cost of 43k per year with a take home of 30k and a taxes of 13k for the year.\n\nAlso since you are self employed you can dump money or business profit at the end of the year in to a 401k solo. Yep you can control your income with out slowing down. and can change the numbers as you go along.\nHope this helps.
128933
take in your last couple years worth of tax forms that show you are self employed.
890134
I've got my own LTD company. First find a good accountant who specialises in small businesses, he will keep you right as to everything you need to do. You need to decide on your company name and check it again the list at Companies House (you can do this on the net). You need to decide whether you wish to register for VAT (if your turnover is above a certain amount you don't have a choice, you must be registered). You will need liability insurance, but again a good accountant will point you in the right direction. Your accountant can also be your company secretary so you don't need a partner. Good luck!
347228
If you are considered Self-employed, i.e. your employer condisders you an independent contractor and does not withhold taxes, you must make estimated tax payments quarterly on form 1040ES.  When filing taxes annually, you must include the Form 1040SE, which is your self-employment tax.  When you are employed by someone who with holds tax, that employer pays half of your fica tax.  Now that you are an independent contractor you must pay the full 15% Fica tax.  (you are able to deduct half of the Self-employment (FICA) tax towards your adjusted gross income thus reducing your tax liability.)
729341
Depending on your tax code and your personal circumstances you should clear about £232.74
207198
A tax payer can receive an automatic 6 month extent ion of time to file their federal return. You must file form 4868 (application for automatic extension of time to file a US individual income tax return) This form must be filed by April 17th. I hope this helps. You can go to IRS.GOV
805283
Judy, as usual, gave a sound answer.  I would just add one thing.\n\nIf you are going to do your taxes yourself (which I do not generally recommend with a Schedule C) do not forget about Schedule SE.  That covers self-employment taxes, like the Social Security and Medicare deductions employees have.  Remember, you have to pay double what an employee would pay as you have to pay the "employer's" share as well.\n\nOften, SE tax can cause a shock at tax time, especially with a new business.  You might want to take your records to your accountant before the end of the year and get an estimate of the tax bill.  If you do not have an accountant yet, now is a good time as this is the slowest time of the year in most CPA offices.
867769
Hi\n\nYou don't have to register a business at all.\n\nHowever:\n\n- if you want to operate the business under a business name (other than the name of you and your brother), you will most likely need to register the business name\n\n- you do not need an ABN but if you make a turnover of over $50K you will need to register for GST, for which you will need an ABN. If you register for GST you will also be able to claim GST credits back for the equipment/materials you purchase for your business\n\n- an ABN registration may also be useful for purchasing items at discounted prices\n\n- some business will not deal with you unless you are able to provide an ABN\n\n- There may be tax savings in operating as a corporation (a Pty Ltd company, for which you will need an ABN, an ACN and various set up documents). For this you will most likely need to talk to an accountant.\n\nI think you should read this:\nhttp://www.business.gov.au/Business+Entry+Point/Business+Topics/Registration+and+licences/\n\nI hope this helps