Individuals who work for themselves have the opportunity to capitalize on tax credits. If you are a sole proprietor and your income falls below $30,950, you might be eligible for the CalEITC. This applies to individuals who hold Social Security Numbers. andIndividuals who possess an ITIN (Individual Taxpayer Identification Number) are qualified. ITIN (Individual Taxpayer Identification Number) holders meet the requirements. Discover additional information regarding the process of filing as an ITIN holder on this page. Explore more details about filing as an ITIN holder here.
The refundable tax credit you will receive is determined by both your income level and the number of individuals in your family. The amount of the refundable tax credit is contingent upon your income and the size of your household. Utilize our calculator to ascertain your qualification and approximate the sum of your loan. .
If you haven't received a W-2 form and are employed in a profession such as:
- Driver for ride-sharing companies
- Gardener
- Childcare worker
- Homecare worker
- Independent contractor
- Domestic worker
- Street vendor
- Janitor
- On-call worker
Remember: Individuals who work for themselves are obligated to remit federal self-employment taxes for Social Security and Medicare, in addition to income tax. Additionally, you might be subject to quarterly payments of estimated taxes.
Looking for assistance with your tax filings? In need of guidance with the process of filing your taxes? Discover the abundance of complimentary assistance available for tax preparation on this site. Unearth the comprehensive array of complimentary aid for tax preparation on this website.