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Taxes and Withholding

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Ace Contributor
Laura S Member Since: Jun 30, 2017
1 of 5

Hey everyone!

 

So I wanted to check with those working in America about how you do tax withholdings?  I understand Federal tax and and State but what about Social Security, Medicare and in Ohio we have city taxes as well.  Are we to be paying a portion for them?  If so, does anyone know how that's done?  I didn't earn much last year and I declared it on my Federal and State taxes but I want to be sure I haven't screwed up somewhere along the way.  Thanks!!

 

Laura

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Community Leader
Madison R Member Since: May 19, 2018
2 of 5

Following this thread because I am trying to figure out taxes too! Because I am solely self-employed, I know I have to file everything myself and have to pay social security/medicare/etc, but I'm still pretty confused on how it all works. 

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Community Guru
Jo-An B Member Since: Aug 2, 2016
3 of 5

Hi Madison and Laura,

You will need to consult with a local tax advisor so that you will be properly guided on the procedure in declaring your taxes as tax laws vary for every country. You can also check this help article for more information. Thank you!

~ Jo-An

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Community Guru
Prashant P Member Since: Sep 29, 2015
4 of 5

I buy TurboTax home and business.  It takes care of Federal - medicare,Medicaid and has state also.  Many cities are linked to the state return (i.e. you don't file.  They extract it out of state return. For example NY City and NY state are interlinked).  Even if they were not linked most city taxes are simple enough.

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Community Guru
Preston H Member Since: Nov 24, 2014
5 of 5

If it were possible for a freelancer to upload their consciousness to the Upwork servers, and exist purely as a disembodied intelligence... then theoretically they could avoid paying taxes. They would only need to pay Upwork service fees.

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