CPA for Freelancers

Taxes, Accounting, & Business Advice for the Self-Employed

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The Self-Employment Tax Wage Threshold is Rising. Time to Change Your Freelance Business Entity?

The Social Security Administration (SSA)¬†recently announced an increase to the maximum amount of wages subject to the old age, survivors, and disability insurance (OASDI) tax. The wage threshold for these taxes will increase to $142,800 in 2021 up from $137,700 in 2020. The OASDI tax rate is 6.2%, Self-employed freelancers will pay these taxes at […]

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