loan,banking and credit
*Loan,banking and credit>>>business tax

Has anyone that owns a small business had to pay a self employment tax?


Has anyone that owns a small business had to pay a self employment tax?

The Self-Employment tax is the exact same thing as the Social Security and Medicare taxes that are withheld from employee paychecks. Social Security is 6.2%, Medicare is 1.45%, your employer has to contribute the exact same amount, and the SE tax of 15.3% is you paying both the employee and employer portions (6.2+6.2+1.45+1.45=15.3). It's a high percentage, yes, but if you plan on retiring some day it will come in handy.
Yes, we all have to file SE tax.

What do you want to know?
Yes. If your business is profitable, you pay SE tax.
Tags
tax table tax tips tax year income tax business tax car tax child tax cigarette tax corporate tax estate tax
Related information
  • Has anyone that owns a small business had to pay a self employment tax?
  • In what way vat affecting the business of hotel industry? What is the tax structure for hotel industry?
  • Where can i get a sample print out of what an American tax assessment for either a personal /business 2005?
  • Hello, Do you need a resale license(sales tax id) to have a photography business?? thanks?
  • How do I change from a sole proprietership (tax breaks) to a stand alone business (longevity). Options?
  • Is Bush's proposal for a health care tax break really a subsidy for business?
  • Is it true that non citizerns are given tax free benefits to start up business then pass on to other family?
  • I am using a DBA can I get a tax free number for my new business?
    •    

    SiteMap--Copyright/IP Policy--Contact Webmaster
    For personal non-commercial use only.