If you earned more than $400 working for yourself last year, the IRS considers you a self-employed individual. This means that along with filing an annual return, you’ll need to pay income taxes and self-employment taxes—and yes, those are two different types of taxes. Plus, if you anticipate owing at least $1,000 on your annual tax return, you’re required to file all your taxes quarterly. (If you’re a freelancer, independent contractor, or sole proprietor, this means you.)
On this page, we explain what the self-employment tax is and how to file it. If you want more information on filing all types of taxes while you’re self-employed, check out our piece on how to file small-business taxes. Or, if you’re a freelancer, see our article on paying taxes as an independent contractor instead.