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Get your taxes done using TurboTax
If your income is due to self-employment, then you are subject to income tax plus self-employment tax.
Your income and filing status determines the tax bracket for your income tax portion. The self-employment tax is separate from the income tax and is 15.3% of net earnings from self-employment. The majority of the tax you are seeing on your return is due to self-employment tax.
To learn more, take a look at the following TurboTax article: What is the self-employment tax?
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March 10, 2021
5:50 AM