4/13/2023 0 Comments Calculator impozit autoWage earners cannot deduct Social Security and Medicare taxes. Also, you can deduct the employer-equivalent portion of your SE tax in figuring your adjusted gross income. However, you figure self-employment tax (SE tax) yourself using Schedule SE (Form 1040 or 1040-SR). ![]() ![]() It is similar to the Social Security and Medicare taxes withheld from the pay of most wage earners.Įmployers calculate Social Security and Medicare taxes of most wage earners. Self-employment tax is a tax consisting of Social Security and Medicare taxes primarily for individuals who work for themselves. Other information may be appropriate for your specific type of business. The list of items below is not all-inclusive. ![]() In the article below, all references to self-employment tax refer to Social Security and Medicare taxes only and do not include any other taxes that self-employed individuals may be required to file.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |