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PDF Editor FAQ

How are the taxes handled? 1099, which means the ridiculous self-employment income tax rate?

the ridiculous self-employment income tax rateReally? You are paying the same as everyone else. It is called Social Secuity and Medicare. 7.65% Just like everyone else.Now you have to pay the employers match as well but like any employer you get a deduction for that.So I really question your statement as you are being treated just like everyone else.

If I do several non-related things as a freelancer, do I need to separate the income/expenses on my tax statements? Or can I just lump them all together?

If you have several different unrelated businesses, each of which you pursue as a sole proprietorship independently of the others, you should prepare a separate Schedule C (or C-EZ) for each such independent venture, with the income and expenses of each reported on its associated schedule.However, you should only prepare one Schedule SE, no matter how many separate sources of self-employment income you have.

Is it true that "you won't become rich working for somebody else"?

Not true. In my previous life, I had 7 digit income years while "working for someone else". Now I'm self employed. Income is all over the place and never 'guaranteed'.I'm happier now, and control my own destiny, but I made more "working for someone else".Basically that statement is a gross oversimplification.

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