@manbeing wrote:
@VolvoGirl I have a W-2 wage job, so I think W-2 wages already covered the Social Security portion (12.4%).
that's why I just need to pay
1,995×0.9235=1,842
Medicare portion:
1,842×2.9%≈53 ?
That is true if your W-2 wages are more than the social security limit for the year ($176,100 for 2025). If your income is more than that, then your business SE tax will only be the 2.9% Medicare portion.
