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Get your taxes done using TurboTax
FICA is deducted from earned income from wages. You did not receive wages. You received income from a client who paid you for services rendered.
You report this income on a Schedule C which is included with your personal tax return, Form 1040. The net income from your self-employment is subject to Self-Employment Taxes.
The self-employment tax rate is 15.3%. The rate consists of two parts: 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance).
May 11, 2023
1:28 PM
1,283 Views