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Get your taxes done using TurboTax
I assume that the effective tax rate that TurboTax is giving you is the effective income tax rate.
Self-employment taxes are not considered income taxes even though they are definitely assessed on your income. To be fair, though, the self-employment taxes are a fixed rate of your net Schedule C income and do not vary with all sorts of deductions and credits, much less having tax brackets.
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March 6, 2020
12:55 PM