Self Employement Tax calculation - 2013
The Self-employment (SE) Tax of 15.3% consists of 12.4% for Social Security and 2.9% for Medicare. After multiplying your Sole Proprietorship’s Net Earnings by .9235, the combined 15.3% rate applies to the maximum taxable earnings base of $113,700 or less and the 2.9% rate applies to all taxable earnings exceeding $113,700.
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