Do you have a lot of W2 income? There is a max.
The SE tax includes what you already paid in from your W2s so your schedule SE tax will only be the difference up to the max amount of $9,114.00 for social security. The max income for social security for 2022 is $147,000 between W2 wages and the schedule C Net Profit.
For 2022 the max for Social Security is $9,114.00 on $147,000 of wages (147,000 x 6.2%).
Medicare is 2.9% (both er & ee parts) of all wages & 92.35% Schedule C Net Profit - no max.
