Build a comprehensive financial plan for your freelance business covering tax strategy, quarterly estimates, expense tracking, retirement planning, and emergency fund targets.
## CONTEXT Self-employed workers pay an effective tax rate that is 7.65% higher than W-2 employees due to the self-employment tax covering both employer and employee portions of Social Security and Medicare. Despite this, an IRS study found that 58% of self-employed individuals do not make quarterly estimated tax…
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