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Empowering Financial Futures: Where Insurance Meets Tax Efficiency
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If you are self-employed, you will need to file Schedule SE (Form 1040) to figure out the tax due on net earnings from self-employment 12. This tax applies no matter how old you are and even if you are already getting social security or Medicare benefits 1. You must file Schedule SE if the amount on line 4c of Schedule SE is $400 or more . If you filed Form 4029 or Form 4361 and received IRS approval, you may not need to file Schedule SE 1.
Please note that this is a general guideline, and you should consult a tax professional for specific advice regarding your business and tax situation.
