General Information

Course Description

Taxes & Strategies for the Self-Employed provides a comprehensive technical and practical analysis of the calculation, planning, and optimization of Self-Employment Tax under current IRS regulations for the 2026 tax year.

Throughout the course, participants will learn how to accurately calculate self-employment tax based on net income reported on Schedule C while clearly distinguishing the tax burden of an employee from that of an independent contractor.

The program explores the proper application of the 50% Self-Employment Tax deduction and its direct impact on Adjusted Gross Income (AGI), the preparation and planning of quarterly estimated tax payments using Form 1040-ES, and the strategic implementation of the IRS Safe Harbor rules to help taxpayers avoid costly underpayment penalties.

Course Objective

Equip participants with the knowledge and practical skills needed to calculate, plan, and optimize Self-Employment Tax, including the proper use of the 50% deduction, efficient quarterly estimated tax planning, accurate application of the Safe Harbor rules, and the development of an effective tax cash flow strategy that ensures full IRS compliance.

Who Should Take This Course

• Tax preparers who advise self-employed clients.
• Certified Public Accountants and tax professionals seeking qualifying CE credit.
• Independent contractors, freelancers, and gig economy workers (Uber, Etsy, etc.).
• Small business owners reporting income and expenses on Schedule C.
• Accounting, finance, and law students specializing in business taxation.

Industry Statistics

• Approximately 93% of freelancers underestimate their tax liability during their first year of business (SBA).
• The IRS collects more than $100 billion annually through the Self-Employment Tax.
• The 2026 Self-Employment Tax rate remains 15.3% (12.4% Social Security + 2.9% Medicare).
• More than 25 million taxpayers file Schedule SE each year.
• The 2026 Social Security wage base is $184,500.
• A self-employed taxpayer earning $80,000 in net business income pays approximately $11,300 in Self-Employment Tax.

Course Content – 10 Modules

Learning Outcomes

• Accurately calculate Self-Employment Tax on net business income.
• Correctly report the 50% Self-Employment Tax deduction on Form 1040.
• Prepare timely estimated tax payments to minimize or avoid IRS penalties.
• Apply Safe Harbor rules to protect taxpayers from underpayment penalties.
• Create an organized quarterly payment schedule and tax cash reserve plan.
• Confidently advise self-employed clients using current IRS regulations and best practices.

Included Materials

• Academy textbook: Taxes & Strategies for the Self-Employed.
• Official IRS forms: Schedule C, Form 1040, Schedule SE, and Form 1099-NEC.
• Form 1040-ES (Estimated Tax for Individuals).
• IRS Publication 334 — Tax Guide for Small Business.
• IRS Publication 505 — Tax Withholding and Estimated Tax.
• Practical case studies, guided simulations, and access to tax calculation tools.

Assessment

Frequently Asked Questions