@Leen1 wrote:
Schedule SE Line 4a (and similarly for Line 5b) have us multiply our self-employment net profit by 0.9235 to, er, approximate our net earnings, which is how much our self-employment net profit will be after one half of the self-employment tax is subtracted.
No, those are two different things. Multiplying by 0.9235 is NOT meant to approximate the net profit minus 1/2 SE tax. It is sort-of meant to equate things to W-2 wages.
