This article is brimming with incorrect assertions, such as these: >The self employment tax rate consists of 15.3% of your adjusted gross income. >You pay an

This article is brimming with incorrect assertions, such as these: >The self employment tax rate consists of 15.3% of your adjusted gross income. >You pay an additional 0.9% Medicare tax on the amount that your annual income exceeds $200,000 for single filers, ... >If you suddenly receive a windfall near the end of your tax year that throws off your estimate, you are still required to file an amended return. > Net income is determined by subtracting your gross income (total income) from your losses. >But for anything [business asset] over $2,500, Section 179 applies and things get a bit more complex. >the recipient of a prize has to pay taxes on the value of the prize if that prize's value is over $600. [prizes under $600 are taxable] >Clothing with your company’s logo [...] are deductible. Granted, there are a lot of complexities that are difficult to summarize succinctly, but when even basic terminology and concepts are this sloppy, it would be better to just refer the reader to the IRS publications, which are generally well-written at a text-book level.