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2. How Much Is Self-Employment Tax? - AOL

   www.aol.com/much-self-employment-tax-120001832.html

   The self-employment tax is comprised of two taxes: the Social Security tax and the Medicare tax (also known as the FICA tax). As of the tax year 2023, the FICA tax rate is 15.3% — that’s 12.4% ...

3. 15 Self-Employment Tax Deductions You Should Know - AOL

   www.aol.com/15-self-employment-tax-deductions...

   Here are a few of the most common self-employment tax deductions: 1. Self-Employment Tax Deduction. If you’re self-employed, you will end up paying more Social Security and Medicare tax than an ...

4. Everything You Need to Know About Self-Employment Tax - AOL

   www.aol.com/finance/everything-know-self...

   There's no state self-employment tax, but there's a federal one. Skip to main content. 24/7 Help. For premium support please call: 800-290-4726 more ways to reach us. Sign in. Mail. 24/7 ...

5. Self-employment - Wikipedia

   en.wikipedia.org/wiki/Self-employment

   In fact, there is an additional Medicare tax rate of 0.9% when a self-employed individual earns above $200,000 (single). Generally, only 92.35% of the self-employment income is taxable at the above rates. Additionally, half of the self-employment tax, i.e., the employer-equivalent portion, is allowed as a deduction against income.

6. Form 1040 - Wikipedia

   en.wikipedia.org/wiki/Form_1040

   Is used to calculate the self-employment tax owed on income from self-employment (such as on a Schedule C or Schedule F, or in a partnership). Sch. 2 line 4 Schedule 1 Additional Income and Adjustments to Income - Former lines 1-36 that were moved from 1040 with those kept on 1040 omitted. 8 Schedule 2

7. Payroll tax - Wikipedia

   en.wikipedia.org/wiki/Payroll_tax

   Federal social insurance taxes are imposed on employers [35] and employees, [36] ordinarily consisting of a tax of 12.4% of wages up to an annual wage maximum ($118,500 in wages, for a maximum contribution of $14,694 in 2016) for Social Security and a tax of 2.9% (half imposed on employer and half withheld from the employee's pay) of all wages ...