WebMaximizing refund depends on accurate tax return filing, taking advantage of deductions and credits allowed by the law, and being up-to-date with the current tax regulations. ... In addition to federal income tax, self-employed individuals are also responsible for self … WebFeb 5, 2024 · Self-employed tax rates. Federal tax rates for 2024 are: 15% on the first $50,197 of taxable income 20.5% on taxable income between $50,197 and $100,392 26% on taxable income between $100,392 and $155,625 29% on taxable income between $155,625 and $221,708 33% on any taxable income over $221,708. Provincial tax rates …
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