How do online workers pay their tax?
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How do online workers pay their tax?
If you are unsure, I’d recommend going to a local accountant office or tax professional. Taxes are complicated, and if you are unsure how to start, you might want to consult with an expert. Also, checking PayPal for your tax forms makes filing taxes easier but you still have to double check to make sure they have calculated everything correctly.
Income tax is always calculated on total earnings, so you will have to pay tax on amounts above the personal allowance for your combined income from employment and self-employment. It’s important to realise that if your self employment profits push your total earnings into a higher tax band, you will have to pay the higher rate.