Self-Employment Tax
A self-employment tax calculator computes the 15.3% SE tax on net self-employment income (Social Security: 12.4% up to $168,600 in 2024; Medicare: 2.9% on all earnings, plus 0.9% additional Medicare tax on earnings over $200,000). Self-employed individuals can deduct half of SE tax on their income tax return.
Difficulty:intermediate
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