Self-Employment Tax Credit: Get Up to $36,220 in Tax Relief
The Self-Employment Tax Credit (SETC) is a tax credit available to self-employed individuals and business owners who pay self-employment tax on their earnings. It is calculated on IRS Form 7202 and can be claimed on your tax return. You can apply if you took time off in 2020 or 2021 due to COVID-19 or if you took care of someone who had COVID-19 during the same time frame.
Who is eligible for the SETC?
To be eligible for the SETC, you must meet the following requirements:
- You must be a self-employed individual or business owner.
- You must have paid self-employment tax on your earnings in 2020 or 2021.
- You must have taken time off in 2020 or 2021 due to COVID-19 or if you took care of someone who had COVID-19 during the same time frame.
How much can I claim?
The amount you can claim depends on the number of days you took off and the rate of pay for your self-employment income. You can claim a maximum of $10,220 for COVID-19 sick leave and $12,000 for family leave. Apply Here for Free To See If You Qualify
How do I claim the SETC?
To claim the SETC, you must file Form 7202 with your tax return. You can find Form 7202 on the IRS website or we can help you. See if you qualify, click here now!
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