Self-Employment Tax Initiative
Good news about tax time! It turns out that tax preparation is an extremely effective and efficient time to support low-income small business owners. The purpose of SETI is to demonstrate how local organizations can use the tax code to deliver essential business development and financial services to low-income entrepreneurs.
Unincorporated, self-employed business owners must file a Schedule C each year to report any business income (or loss.) Each year over 2 million individuals file for the first time, and many of them would benefit from support through free tax preparation programs. These programs are an invaluable resource and partner in offering microenterprise assistance and financing. In 2005 CFED launched SETI to support tax preparation efforts that were reaching low-income business owners.
More
Since it launched, SETI has supported 34 organizations implementing tax preparation programs that have served over 20,000 disadvantaged self-employed businesses. SETI local partners help identify, test and refine promising practices for using the tax code as a means of fostering small business development.
More
SETI promotes sound tax policy for start-up self‐employed filers who face an onerous tax code for which they are often unprepared. SETI engages with policy partners to help analyze and understand self‐employment tax policies at the national and state levels in order to help grow businesses and reduce the tax gap attributed to self-employed businesses.
More
1200 G Street, NW