Self-employment tax
Definition:
Similar to Social Security and Medicare taxes. The self-employment tax rate is 15.3 percent of self-employment profit. The self-employment tax is calculated on Schedule SE—Self-Employment Tax. The self-employment tax is reported on Form 1040, U.S. Individual Income Tax Return.
Source: Understanding Taxes - Glossary - irs.gov
Income Tax Glossary » Letter |
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