Actually, you didn't "get back" the SS & Medicare that would have been withheld on a W-2. These taxes are not refundable.
What you might have received back when you received a W-2 and filed your income tax return would be any federal INCOME TAX that might have been withheld from your paycheck....along with any EIC.
Yes, for self-employed people, it is a double edged sword. They end up paying the employee's share of SS & Medicare...and since they are also the employer, they end up paying the employer's share as well.
Then, just as in the case of a W-2, there is income tax to be paid as well. Basically being self-employed adds about 7 1/2% tax to the individual....the employer's share of SS & Medicare.
**Disclaimer: Effort has been made to offer correct information; but due to the discussion forum limitations, the poster disclaims any legal responsibility for the accuracy of the poster's response**
