How to Calculate Self Employment Tax in the U.S.?

Answer The Self Employment Tax is a social security and Medicare tax on the net earnings of self employed individuals in the United States. Wage earners (people who work for someone else and have taxes au... Read More »

Top Q&A For: How to Calculate Self Employment Tax in the U.S.

How to Pay Self Employment Tax?

You should have an SSN or an ITIN to pay self employment tax. If you do not have an SSN, you can easily obtain one at any Social Security office. Apply for the SSN using a Form SS-5 from the Social... Read More »

Who has to pay self employment tax?

The self-employment tax is levied on those who have income from working as an independent contractor or whose self-employment earnings exceed the annual limit. As of 2010, if you have more than $40... Read More »

How to Eliminate Self-Employment Tax?

Many dream of owning their own business some day, but a hefty self-employment tax can turn that dream into a tax nightmare. Self-employment tax, known as SE tax, can add 15 percent to your tax bill... Read More »

What is self-employment tax?

The self-employment tax is a U.S. Medicare and Social Security levy paid by individuals who work as independent contractors, operate their own businesses as sole proprietors or participate as membe... Read More »