First steps with taxes: worker classification, business structure, registration basics and which forms you need.
Your marginal tax rate is the rate on your next dollar; your effective rate is your total tax divided by your income. A 2026 worked example for a freelancer with $100,000 of profit shows about 25.7% effective federal tax and about 34.6% marginal, plus how to work backward from a take-home goal.
Up to 85% of Social Security benefits can be taxable, depending on provisional income. Work through the IRS thresholds ($25,000 and $34,000 single; $32,000 and $44,000 joint) with three examples that show the arithmetic line by line.
Your filing status sets your standard deduction and tax brackets. Use six questions to choose among single, married filing jointly or separately, head of household and qualifying surviving spouse, with 2026 standard deductions and a married-versus-separate example.
Find your situation in the table (one job, two jobs, two earners with kids, side income, itemizer or exempt) and see exactly which steps of the 2026 Form W-4 to complete, with the $2,200 per-child amount and the multiple-jobs options explained.
What actually requires registration when you become self-employed — and what doesn’t need any paperwork at all.
Why an LLC doesn’t give you a tax break a sole proprietorship doesn’t already have, and when the liability protection is actually worth it.
The five real steps to becoming an organized independent contractor — from understanding your classification to finding your first clients.
