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QUESTION DETAIL
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How do you file and pay taxes when you are self-employed?
ANSWER
The BIDaWIZ Team's Answer:
If you are setup as a sole proprietorship, you should report your self-employment income on your Schedule C of your Form 1040. Please note that the self employment tax is 13.3% for 2012, but you can deduct up to 1/2 of your self employment taxes as an above the line deduction.
