Are Massage Therapists Taxed by Your State?

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If you are mental about becoming a full time massage therapist, you may be wondering, "Are massage therapists taxed?" Well, the respond is not so simple, as the state tax laws depend on where you live. You will need to look up the state laws regarding taxes in your definite area. It is safe to say you will be required to pay earnings taxes and self-employment taxes if you are carefully self-employed, though, in which case your earnings will need to be reported on agenda C of the 1040 earnings tax form. So once you find out either your new work path is taxed by your state, you will want to find out what kind of deductions you can make.

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If you brought in more money than the whole of your allowable deductions, you will be taxed on the remaining profit. You are required to pay the Irs a measure of your firm profit as self-employment tax as well as part of your firm profit as earnings tax. Self employment taxes are currently at a rate of 15.3 percent for all businesses with profits of up to ,900. earnings taxes are added on top of that, which can range from 10 percent to 38 percent, depending on your earnings and marital status. State earnings taxes would then be added on top of this if you live in a state that taxes income.

There are obviously a lot of taxes that can speedily eat up a chunk of the profits from your massage therapy business, which is why you need to make as many deductions as possible. For every dollar you spend in deductions you save about 30 percent in taxes. Whatever that you spend money on for the sake of your firm is a deduction, so you need to save receipts and keep rigorous track of everything you spend that relates to massage and running the business. Your car, office rent, massage tables, equipment, advertising, telephone, fax, website, firm travel, ongoing study expenses, licensing fees and relationship membership dues may all be carefully tax deductions. If you're smart about it, you shouldn't have to pay very many taxes at all. If you're still trying to form how much are massage therapists taxed, you should probably consult a tax expert to help.

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