You still get tapped for the full 15.3% of fica and medicare plus a 5% self-employment tax....right? I could have sworn that self-employed had to pick up both the employer and employee portions of fica/medicare which is 7.65% each side.
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Originally Posted by Bob Smith 0% for me. Deductions, allowances, and such for self employed people is quite nice. Gotta love those mileage deductions! |